Instagram co-founders to step down

Irving Hamilton
September 25, 2018

Systrom and Krieger did not specify a reason for their departure but Bloomberg reported that the men were leaving the photo-sharing app because of growing tensions about the direction of the business with Mark Zuckerberg, the Facebook founder whose company bought Instagram six years ago. The New York Times first reported the move.

Instagram on Monday said co-founders Kevin Systrom and Mike Krieger have resigned as chief executive officer and chief technical officer of the photo-sharing app owned by Facebook Inc, with the pair giving scant explanation.

Facebook acquired Instagram for $1 billion in 2012, and since then, it has been considered one of the social media network's most successful acquisitions.

Systrom wrote in a blog post on Monday that he and Krieger planned to take time off and explore "our curiosity and creativity again".

In a statement, the duo said they would step down to "explore our curiosity again".

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"We're now ready for our next chapter", Mr Systrom said in a statement. We look forward to watching what these innovative and extraordinary companies do next.

Adam Mosseri, who had overseen Facebook's news feed and spent a decade working closely with Zuckerberg, became Instagram's head of product.

WhatsApp chief executive and co-founder Jan Koum said in April he would quit the popular messaging service he co-founded in 2009 and sold to Facebook in 2014.

It's the latest in a wave of executive departures of recent times, one that's proven a particular headache for Facebook.

Instagram has largely escaped Facebook's high profile problems with privacy, foreign election interference and fake news and has been able to maintain a younger user base than its parent company.

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