Updated By: LatestGKGS Desk
Instagram co-founders Kevin Systrom & Mike Krieger resigns
Instagram co-founders Kevin Systrom & Mike Krieger resigns: Details, Highlights
Kevin Systrom and Mike Krieger, the co-founders of the photo-sharing app Instagram, on 24th September 2018 announced to resign from their respective positions in the social media company.
Mike Krieger is the Chief Technical Officer, while Kevin Systrom is the Chief Executive Officer. They founded the photo-sharing app in 2010 and sold it to Facebook in 2012 for about USD 1 billion.
Though they did not mention the reason to leave the company, however, revealed their plan to take time off to explore their creativity again.
About Instagram
Instagram was founded in 2010 as a location check-in app called ‘Burbn’, a software project built by Systrom.
Mike Krieger, an enthusiastic user of Burbn, met Systrom at a Stanford University fellowship program and they decided to work together. Eventually, Burbn was reconfigured and renamed as the Instagram.
Systrom and Krieger worked to popularise Instagram through photo filters and camera lenses. The duo worked out of a small office in the San Francisco.
Instagram eventually caught the eye of Facebook founder Mark Zuckerberg, who realised how powerful Instagram's photo-sharing network would become.
Facebook purchased Instagram for USD 1 billion in cash and stock in the year 2012. It was Facebook's biggest acquisition till date.
The deal immediately turned Systrom and Krieger into big millionaires.
