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Instagram co-founders step down from company: NYTimes

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Co-founders of Facebook Inc’s (FB.O) Instagram, Kevin Systrom and Mike Krieger, have resigned as chief executive officer and chief technical officer, respectively, and plan to leave the photo-sharing app company in coming weeks, the New York Times reported late on Monday.

They have notified the photo-sharing app’s leadership team and Facebook on Monday about their decision to leave, the newspaper reported, citing people with direct knowledge of the matter.

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Systrom and Krieger did not give a reason for their departure, the paper said, adding that they planned to take time off after leaving Instagram.

An Instagram spokeswoman did not have immediate comment. Facebook was not immediately available to comment outside regular business hours.

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. In 2016, it added the ability to post slideshows that disappear in 24 hours, a copy of Snapchat’s popular “stories” feature.

Instagram is its parent’s fastest-growing slice of revenue, but it touts 4 million fewer monthly advertisers globally. As Instagram has shown more ads, the average price per ad across Facebook’s entire family of apps has declined earlier this year after a year of upswing. A new privacy law in Europe also has affected prices.

The departure of Instagram co-founders comes months after the exit of Jan Koum, co-founder of WhatsApp, another Facebook unit.

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Reporting by Bhargav Acharya in Bengaluru; Editing by Gopakumar Warrier


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WATCH: Nicolle Wallace breaks down ‘the case against William Barr’

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MSNBC anchor Nicolle Wallace on Monday broke down "the case against William Barr" as controversy continues to envelop the Department of Justice.

"Republicans and Democrats who have served in the Justice Department for the past 12 presidents are today calling for William Barr's resignation as our country's attorney general," Wallace reported.

Wallace read from an open letter signed by 2,000 former federal prosecutors and DOJ officials.

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Amazon’s Jeff Bezos to donate $10 billion to fight climate change

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Amazon founder Jeff Bezos said Monday that he plans to spend $10 billion of his own fortune to help fight climate change.

Bezos, the world’s richest man, said in an Instagram post that he'll start giving grants this summer to scientists, activists and nonprofits working to protect the earth.

“I want to work alongside others both to amplify known ways and to explore new ways of fighting the devastating impact of climate change,” Bezos said in the post.

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Fox News reports wages rose faster under Obama than Trump after his campaign lashes out at predecessor

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In what was possibly a hint to remind people of his legacy this Monday, former President Barack Obama gave a shout out to the anniversary of his signing of the 2009 economic stimulus package.

“Eleven years ago today, near the bottom of the worst recession in generations, I signed the Recovery Act, paving the way for more than a decade of economic growth and the longest streak of job creation in American history,” Obama tweeted with a photo of his signature on the bill.

https://twitter.com/BarackObama/status/1229432034650722304?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed&ref_url=https%3A%2F%2Fwww.foxnews.com%2Fpolitics%2Ftrump-campaign-fires-back-after-obama-claims-credit-for-economic-boom

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