Instagram -- Sorry, We're NOT Selling Your Photos!!!!

Instagram is in full damage control mode ... with company's co-founder firing off an emergency statement SWEARING the company has no plans to sell its user's photos.

The statement is a desperate attempt to quell concerns after the company released a new terms of service agreement to users yesterday which says "a business or other entity may pay us to display your username, likeness, photos (along with any associated metadata), and/or actions you take, in connection with paid or sponsored content or promotions, without any compensation to you."

After several famous and non-famous users vowed to stop using Instagram, co-founder Kevin Systrom released a statement saying, "It is our mistake that this language is confusing. To be clear: it is not our intention to sell your photos."

Systrom continues, "[The new terms of service] was interpreted by many that we were going to sell your photos to others without any compensation. This is not true."

He adds, "Instagram users own their content and Instagram does not claim any ownership rights over your photos. Nothing about this has changed. We respect that there are creative artists and hobbyists alike that pour their heart into creating beautiful photos, and we respect that your photos are your photos. Period."

"I always want you to feel comfortable sharing your photos on Instagram and we will always work hard to foster and respect our community and go out of our way to support its rights."