In a blog post, Mr Systrom said: "We're now ready for our next chapter."
Meanwhile, the co-founders haven't listed a reason for their resignation, but they are planning to take time off after leaving Instagram. Building new things, he added, requires stepping back, understanding what inspires them and matching that with what the world needs and that's exactly what they plan to do.
All of this said, hopefully Kevin and Mike's departure doesn't foreshadow an increasing Facebookification of Instagram. But in the six years they've continued at Instagram post-acquisition, they have built a money-making giant. 'We look forward to watching what these innovative and extraordinary companies do next'.
Instagram eventually caught the eye of Mark Zuckerberg, Facebook's chief executive, who realized how powerful Instagram's nascent photo-sharing network would become, and saw the wealth of photo-sharing activity across his own social network.
China retaliates against latest Trump tariffs on Chinese goods
The predatory practices, the USA says, are part of China's relentless drive to challenge American technological dominance. China has hit back at U.S. president Trump by announcing new trade tariffs on $60 billion of United States goods.
Karl-Anthony Towns gets potential $190 million super-max contract from Minnesota
Unfortunately for Butler , Timberwolves president and coach Tom Thibodeau isn't interesting in giving away the four-time All Star. Conflicting reports came out Friday as ESPN reported Minnesota's front office is shutting down trade requests from other teams.
United held by Wolves to slip eight points behind leaders
David de Gea came to United's rescue after seven minutes, as he produced a superb save to deny Raul Jimenez from 10-yards out. The draw keeps Wolves one point behind Manchester United in 10th, as Mourinho's side climb to fifth.
Instagram has been a bright spot in Facebook's faltering growth, along with the sister purchase of WhatsApp, both of which until recently were run relatively independently leaning only on Facebook's technology.
Instagram, which Facebook bought in 2012 for $1 billion, has more than 1 billion active monthly users and has grown by adding features like messaging and short videos. Once upon a time, Instagram's association with Facebook was no doubt a coup; these days, you get the feeling that anything associated with Facebook wants to slide down a seat or two, like a teenager embarrassed of her uncool mom.
Facebook shares were down 1% to $163.66 on Tuesday morning, and have slumped 7.5% for the year so far. Facebook's stock has taken a dramatic plunge in the wake of the scandal with Cambridge Analytica, which used an online quiz to harvest and collate Facebook users' information online.
Analyst Anmuth estimates Instagram will haul in $7.5 billion in revenue this year, more than double from a year ago-and roughly 14% of Facebook's ad revenue in 2018. For much of the past two years, critics have railed against Facebook for being careless with user data and for not preventing foreign interference across its network of more than 2 billion people.
The founders of Instagram plan to step down from parent company Facebook in the coming weeks.