Why Instagram’s founders are leaving the Facebook-owned app

Why Instagram’s founders are leaving the Facebook-owned app

Systrom and Krieger resigned on September 24, 2018, and plan to leave the company in coming weeks, adding to the challenges facing Instagram's parent company, Facebook.

Founded in 2010 by Systrom and Krieger, who met at Stanford University, in California, Instagram rapidly gained popularity as an iPhone-only photo-sharing service with a focus on square images tweaked with various colour filters. But eventually, they became frustrated with Zuckerberg's increased daily involvement with Instagram, according to the Times.

U.S. media reports indicated that a disagreement with Facebook over the privacy of user data may have also been a factor in Koum's decision to quit his position as a high-ranking executive and likely leave his seat on the board at the leading online social network.

Facebook shares fell 2.2 per cent, to US$161.70, at 9:44 NY.

Facebook acquired Instagram in April 2012 for a combination of cash and stock worth some $1 billion at the time.

"I'm looking forward to seeing what they build next", he said in a statement.

As The New York Times points out, the co-founders informed Facebook of their decision to leave yesterday, and they will depart within a few weeks.

Facebook has a history of clashing with the leaders of companies it acquires.

New sexual misconduct claim aimed at Trump supreme court pick
They were both present at a party in a dorm room their freshman year, Ramirez told The New Yorker's Ronan Farrow and Jane Mayer. At the United Nations in New York, Trump called his nominee "outstanding", and said he is "with him all the way".

Instagram's founders Mike Krieger and Kevin Systrom have resigned, leaving the company they created in the hands of Facebook's executives. Offered through Instagram and as a standalone app, IGTV serves up longer-length video content, mostly from popular Instagram users. Instagram is adding 300 million active users each month, whereas Facebook is adding 228 million to its main service.

In March, in the week Mr Zuckerberg apologised for the handling of a historic data breach, Facebook ended $58bn (£44bn) lower in value.

Regardless of who Facebook installs to take over Instagram, it's a sure bet that the platform's fundamental business strategy won't change - which is to continue to develop Instagram as the sector's most engaging platform for brand marketers, said Yuval Ben-Itzhak, CEO of Socialbakers.

Adam Mosseri, who had overseen Facebook's news feed and spent a decade working closely with Zuckerberg, became Instagram's head of product.

On the news that WhatsApp cofounder Jan Koum was leaving Facebook earlier this year, sources told The Washington Post that a power struggle was partially responsible for the departure. That changed. But so did the number of users - now more than a billion.

Instagram, meanwhile, has remained a bright spot for the company.

Earlier in September, the European Union called Facebook to explain what it does with its users' personal data and how it shares their information with third parties. Brian Acton, WhatsApp's other co-founder, had already left the previous September.

Social media giant Facebook, Inc.