Instagram Co-Founders Resign from Facebook Amid Tensions with Mark Zuckerberg
26 September, 2018, 19:12 | Author: Kristi Dunn
That fuelled investor concern over the sudden loss of the pair, which follows the departures of WhatsApp co-founders Jan Koum and Brian Acton and a reshuffling of Facebook's executive ranks earlier this year.
In any event, there are changes afoot at Instagram, at least internally.
All of this said, hopefully Kevin and Mike's departure doesn't foreshadow an increasing Facebookification of Instagram.
According to The New York Times - which broke the news - Facebook executives were only made aware of Systrom and Krieger's decision to depart on Monday.
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.
"We're planning on leaving Instagram to explore our curiosity and creativity again", Systrom wrote. Now, he said, they are ready for their next chapter.
As the number of users increased, so has the value of the company. At the time, it was by far Facebook's largest acquisition (although it was dwarfed by the $19 billion Zuckerberg paid for WhatsApp two years later). You could even argue that Instagram was positioned as an anti-Facebook, although there has been a notable creep of ads and Facebook-style branding in recent updates.
But there was pressure for their two apps to become more integrated, and features were added allowing, for example, Instagram Stories - videos that self-destruct after 24 hours - to be cross-posted to Facebook.
Ben-Itzhak says ad spend data on the Socialbakers platform shows businesses are leveraging Instagram ads more than ever before. He said Instagram played a "critical role" in attracting younger users, as it competes with Snap.
Now, Systrom and Krieger are leaving.
Instagram accounts for Facebook's fastest growing slice of revenue.
The founders of Instagram on Monday announced they will step down from the popular social media company. They brought that to the table. The report states that they've already resigned and they plan to leave the company in the upcoming weeks.
Systrom's and Krieger's departures follow a steady stream of Facebook executives who have chose to leave the company this year.
Still, any risk from the "over-Facebookization" of Instagram would take time to play out, said Mr. Parker. Facebook's main app has been marred by scandals around privacy, the Cambridge Analytica issue, and the spread of fake news.
Exactly when Systrom and Krieger plan to put in their last days at Instagram remains unclear, and Facebook has yet to name their replacements.
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