Instagram co-founders resign to explore ‘creativity again’
Kevin Systrom and Mike Krieger leave the social media company amid reports of tensions with Facebook founder Mark Zuckerberg
The co-founders of Instagram, Kevin Systrom and Mike Krieger, have resigned as chief executive officer and chief technical officer of the social network.
Systrom and Krieger did not specify a reason for their departure but Bloomberg reported that the men were leaving the photo-sharing app because of growing tensions about the direction of the business with Mark Zuckerberg, the Facebook founder whose company bought Instagram six years ago.
Systrom wrote in a blog post on Monday that they plan to take some time off and explore “our curiosity and creativity again”. The men said they were “ready for the next chapter”.
A spokeswoman for Facebook deferred comment to Instagram.
Zuckerberg said that he was looking forward to seeing what the pair did next adding that he had learned a lot from working with them.
Instagram, which Facebook bought in 2012 for $1bn, has more than 1 billion active monthly users and has grown by adding features like messaging and short videos. In 2016, it added the ability to post slideshows that disappear in 24 hours, a copy of Snapchat’s popular “stories” feature.
Instagram is its parent’s fastest-growing slice of revenue, but it touts 4 million fewer monthly advertisers globally. As Instagram has shown more ads, the average price per ad across Facebook’s entire family of apps has declined earlier this year after a year of upswing. A new privacy law in Europe has also affected prices.
The departure of Instagram co-founders comes months after the exit of Jan Koum, co-founder of WhatsApp, another Facebook unit.