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Instagram co-founders have resigned

 Instagram co-founders Kevin Systrom and Mike Krieger pose at for a photo at an event
Mike Krieger (L) and Kevin Systrom. Photo: Paul Zimmerman/Getty Images

Instagram co-founders Kevin Systrom and Mike Krieger have resigned and plan to leave the Facebook-owned company "in coming weeks," the New York Times' Mike Isaac first reported and Systrom later confirmed in a statement.

Our thought bubble: Instagram, which has become one of the most successful social media companies in the world under Systrom and Krieger, is seen as something of a savior for Facebook, providing a steady source of growth as its original platform stumbled. The photo-sharing app now has more than one billion users.