The duo resigned from their positions as chief executive and chief technology officer respectively saying they planned to take time off.
It would be recalled Instagram was bought by Facebook six years ago for a billion dollars. Facebook acquired Instagram in April 2012 for a combination of cash and stock worth some $1 billion at the time.
Later in June, the platform announced it passed a billion active users. The platform also unveiled a new long-form video feature in a bid to attract “creators” like those on YouTube