Instagram says CEO Systrom, CTO Krieger resign

Lloyd Doyle
September 25, 2018

The New York Times reported on Monday that chief executive Kevin Systrom and chief technical officer Mike Krieger have resigned from Instagram and are set to leave within weeks, according to unnamed people who know about the matter.

Their announcement came after increasingly frequent clashes with Facebook Chief Executive Mark Zuckerberg over the direction of Instagram, Bloomberg reported.

Instagram founders Mike Krieger, left, and Kevin Systrom attend the 16th annual Webby Awards in NY in 2012.

Mr Systrom and Mr Krieger founded Instagram in 2010 and it was bought by Facebook in 2012, for $1bn (£76m). Instagram, which now has more than one billion users, is a key driver of revenue for Facebook.

When Facebook bought it up, Instagram was ad-free and had a following of 31m people.

Facebook has yet to comment on the Instagram departures, but they follow a year of controversy and scandal for the world's biggest social network, which has been widely criticised for its cavalier use of personal information.

Mike and I are grateful for the last eight years at Instagram and six years with the Facebook team.

Facebook's stock hasn't recovered from the hit, either. 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. A new privacy law in Europe also has affected prices.

The company has started mentioning Instagram more frequently on its earnings calls and taking credit for its success.

Facebook recently said it had deleted hundreds of pages on Facebook and Instagram that were linked to global misinformation campaigns meant to disrupt elections.

The co-founders of Instagram are stepping away. Brian Acton and Jan Koum, the founders of WhatsApp, announced their departures after disagreements with Zuckerberg over the messaging application's business model.

Other reports by Iphone Fresh

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