Instagram co-founders quit

Instagram Co Founders Resign From Company Says Report

Instagram co-founders Kevin Systrom, Mike Krieger reportedly step down

The co-founders of Instagram Kevi Systrom and Mike Krieger have announced that they are leaving the company they sold to Facebook for $1bn six years ago.

Instagram has thus far been a bright spot in Facebook's portfolio, largely (though not entirely) untainted by controversies - but the cofounder team's departures raises questions about the direction and future of the wildly popular app.

Since Instagram started in 2010, its grown to over a billion users.

The move by the two to leave Instagram follows the same path that Jan Koum, who is WhatsApp's co-founder, took in April when he left the messaging-app company which was also bought by Facebook. "Kevin and Mike are extraordinary product leaders and Instagram reflects their combined creative talents", wrote Zuckerberg. "ORCRP0017763-topic.html" class="local_link" >WhatsApp, Facebook's largest acquisition, and its influential head of policy and communications.

"Instagram has more heavy usage of Stories, so that's an area of continued growth opportunity because the effective levels of monetization in Stories are lower", Mr. Wehner said.

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"One of the key hallmarks of Instagram has been its independence and uniqueness from Facebook".

The founders of Instagram plan to step down from parent company Facebook in the coming weeks.

"In a sense, Facebook, which was once itself an upstart, has now become the establishment", said Stephen Allan, world-wide chairman and CEO of Mediacom, a media agency owned by ad giant WPP PLC.

That led to a reshuffling of Facebook's executive ranks, increasing Zuckerberg's ability to influence day-to-day operations. Facebook recently disclosed that it had deleted hundreds of pages across Instagram and its main social network linked to global misinformation campaigns meant to disrupt elections.

A similar conflict was also seen regarding pushing Facebook notifications inside Instagram and a Facebook button inside Instagram's settings.

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"I'll still be cheering WhatsApp on - just from the outside", he said at the time.

Systrom said in a statement on Monday that he and Krieger are "ready for our next chapter" that includes "building new things".

Instagram is growing faster than Facebook's core app. It is still seen as a more uplifting place than Facebook, escaping fallout from scandals such as that around Cambridge Analytica. "In the near term, we expect Facebook shares to come under meaningful pressure from the departures".

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