Instagram co-founders Kevin Systrom and Mike Krieger leave firm

Kevin Systrom and Mike Krieger co-founded Instagram eight years ago then sold it to Facebook
Kevin Systrom and Mike Krieger co-founded Instagram eight years ago then sold it to Facebook

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”.

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

The exit comes amid reports of tension between Instagram’s co-founders and Facebook’s leadership.

Mr Systrom and Mr Krieger started the image sharing site in 2010, and continued to run the service after it was acquired by Facebook two years later.

What have the pair said?

Not a great deal. They reportedly only told the Facebook leadership on Monday so the departure appears pretty sudden.

In a blog post, Mr Systrom said: “We’re now ready for our next chapter.

READ: Oil price hits $81, highest in four years

“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”.

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.

The latest Instagram product, IGTV, which allows posting of longer videos, in part to compete with YouTube, has not had an auspicious start.

It was criticised this month after sexually suggestive videos of children were recommended to its users.

Please follow and like us:
0

Leave a Reply