Instagram founders Kevin Systrom and Mike Krieger resign over Facebook leadership clashes
25 Setiembre, 2018, 09:27 | Author: Arnold Perez
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 Timesreported late on Monday.
Their announcement came after increasingly frequent clashes with Facebook Chief Executive Mark Zuckerberg over the direction of Instagram, Bloomberg reported.
Though Systrom, in the early days of Instagram ads, famously checked each one personally to ensure it aligned with the app's aesthetics, he was not as loudly anti-ads as the founder of another popular Facebook-acquired mobile app, WhatsApp.
Instagram has seen explosive growth since its founding, with an estimated 1 billion monthly users and 2 million advertisers.
A spokeswoman for Facebook, which owns Instagram, did not immediately have a comment.
It is unclear who will lead the company after the founders leave.
Systrom wrote in a blog post on Monday that he and Krieger planned to take time off and explore "our curiosity and creativity again". Building new things requires that we step back, understand what inspires us and match that with what the world needs; that's what we plan to do.
"Mike and I are grateful for the last eight years at Instagram and six years with the Facebook team", Systrom said.
The photo app's global revenue this year is likely to exceed $8 billion, showed data from advertising consults EMarketer.
Facebook's stock hasn't recovered from the hit, either. All the other companies in the FAANG group are up this year.
The Instagram exodus follows resignations from another prominent Facebook acquisition, WhatsApp. The Instagram departures may put further pressure on its stock. Its remaining co-founder and chief executive, Jan Koum, quit the company in May, saying it was "time to move on".
September 25, 2018, 1:04 p.m. AEST Instagram chief executive Kevin Systrom has issued a statement regarding the co-founders' departure.
Instagram in June announced it passed a billion active users, and unveiled a new long-form video feature in a bid to attract "creators" like those on YouTube.
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