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Co-founders of Instagram Kevin Systrom and Mike Krieger Quits
25 Sep, 2018 / 09:59 AM / Reeny Joseph

Source: http://www.omnesmedia.com

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Instagram ‘s co-founders Kevin Systrom and Mike Krieger have resigned as chief executive officer and chief technical officer s. The departures at Facebook’s fastest-growing revenue generator come just months after the exit of Jan Koum, co-founder of Facebook-owned messaging app WhatsApp, leaving the social network without the developers behind two of its biggest services.

The exit happens at a time when the social media is under scrutiny for its platform not safeguarding customer data or how it safeguards customer data, and while it defends against political efforts to spread false information.
Systrom wrote in a blog post that he and Krieger planned to take time off and explore their curiosity and creativity again.Their announcement came after increasingly frequent clashes with Facebook Chief Executive Mark Zuckerberg over the direction of Instagram, Bloomberg reported.

In a statement, Zuckerberg described the two as “extraordinary product leaders”.
“I’ve learned a lot working with them for the past six years and have really enjoyed it. I wish them all the best and I’m looking forward to seeing what they build next,” Zuckerberg said.

Adam Mosseri, who had overseen Facebook’s news feed and spent a decade working closely with Zuckerberg, became Instagram’s head of product.
Systrom and Krieger notified the photo-sharing app’s leadership team and Facebook on Monday about their decision to leave, Instagram said. Their departure would be soon, it said. The New York Times first reported the move. Systrom and Krieger met through Stanford University and worked separately in Silicon Valley before forming Instagram in 2010.

Facebook bought Instagram in 2012 for $1 billion. The photo-sharing app has over 1 billion active monthly users and has grown by adding features such as messaging and short videos. In 2016, it added the ability to post slideshows that disappear in 24 hours, mimicking the “stories” feature of Snap Inc’s Snapchat.
Increased advertising on Instagram has seen the average price-per-ad across Facebook’s apps decline this year after a year of upswing. A new privacy law in Europe also has affected prices.