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Instagram co-founders Systrom and Krieger leaving Facebook-owned firm


Instagram co-founders Systrom and Krieger leaving Facebook-owned firm

The co-founders of photo-sharing giant Instagram, Kevin Systrom and Mike Krieger, are both leaving the firm.

Mr Systrom, chief executive, said they were departing to "explore our curiosity and creativity again".

Instagram was purchased by Facebook in 2012 for $1bn (£760m) in cash and stock and has more than one billion users.


There had been reports of tension between the pair and Facebook, and the departures add to what has been a troubling year for the parent company.
Mr Systrom, 34, the CEO, and Mr Krieger, 32, the chief technical officer, started the image sharing site in 2010, and continued to run the service after it was acquired by Facebook.
In a blog post, Mr Systrom said: "We're now ready for our next chapter.

"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."


There was no animosity in the blog post. Mr Systrom said the pair both remained "excited for the future of Instagram and Facebook".

Zuckerberg's Response 

CEO Mark Zuckerberg said in a statement that Instagram reflected the founders' "combined creative talents".

"I've learned a lot working with them for the past six years and have really enjoyed it," he said. "I'm looking forward to seeing what they build next."

Departure likely reasons

There have been reports of tension with Facebook's leadership. Instagram's popularity has soared in a period where use of the core Facebook product has stagnated.




This has put increased pressure on Facebook to squeeze more and more money from its users by adding new features some felt went against the Instagram app's original focus on simplicity.
Facebook has also been under intense pressure this year over the issues of safeguarding customer data and the misuse of its platforms by those wishing to spread fake news, including for political ends. In March, in the week Mr Zuckerberg apologised for the handling of a historic data breach, Facebook ended $58bn (£44bn) lower in value.


This, along with increased pressure from competitor platforms, appears to have led Mr Zuckerberg and his core executives to exert more control.

It ran counter to the business model the pair had become used to. Mr Systrom had earlier praised the "tremendous freedom" Mr Zuckerberg had allowed since the takeover.

Instagram New Boss?


One of the names being touted as the next boss of Instagram is Adam Mosseri. He's currently head of product, and has a CV that some of Instagram's loyal users might find ominous - he was formerly in charge of Facebook's Newsfeed.

Instagram co-founders Systrom and Krieger leaving Facebook-owned firm Reviewed by Akande Boluwatife on September 25, 2018 Rating: 5

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