AppsTECH NEWS

The founders of Instagram resign from the company they started eight years ago.

By September 26, 2018 One Comment

Kevin Systrom and Mike Krieger founded the photo-sharing app, Instagram in a co-working space in 2010. It became a runaway success, attracting tens of millions of users before the co-founders sold it to Facebook in 2012 for $1 billion. With the tech heavyweight’s backing, Instagram continued its spectacular growth, adding features including videos, stories and, most recently, its own version of TV.

But Systrom, the company’s CEO, and Krieger, its chief technology officer, have now decided to leave their posts. That will deprive Facebook of the two key leaders of an app that’s growing much faster than Facebook itself.

“We’re planning on taking some time off to explore our curiosity and creativity again,” Systrom said in a blog post late Monday. “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.”

He added that they both “remain excited for the future of Instagram and Facebook in the coming years as we transition from leaders to two users in a billion.”

Facebook CEO Mark Zuckerberg described Systrom and Krieger as “extraordinary product leaders.” “I’m looking forward to seeing what they build next,” he said in a statement.

Bloomberg News reported that Systrom and Krieger are leaving because of tensions with Zuckerberg over the direction of Instagram. Spokespeople for Facebook and Instagram declined to comment further on why the executives had decided to step down, referring back to Systrom’s blog post.

 

www.cnn.com

 

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