Instagram founders quit following disagreements with Facebook CEO, Mark Zuckerberg
Mike Krieger and Kevin Systrom built Instagram and sold it to Facebook for $715 million six years ago
Published - Sep 25, 2018 12:02 PM Updated: Sep 25, 2018 12:02 PM
The founders of Instagram are leaving Facebook Inc. after growing tensions with Chief Executive Officer, Mark Zuckerberg over the direction of the app.
Mike Krieger and Kevin Systrom built Instagram and sold it to Facebook for $715 million six years ago. Instagram, which now has more than one billion users, is a key driver of revenue for Facebook.
“Mike and I are grateful for the last eight years at Instagram and six years with the Facebook team. We’ve grown from 13 people to over a thousand with offices around the world, all while building products used and loved by a community of over one billion. We’re now ready for our next chapter,” read a blog post.
“We’re planning on taking some time off to explore our curiosity and creativity again. 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,” added the blog post.
Without the founders around, Instagram is likely to become more tightly integrated with Facebook, making it more of a product division within the larger company than a separate app, say news reports.
“We remain excited for the future of Instagram and Facebook in the coming years as we transition from leaders to two users in a billion. We look forward to watching what these innovative and extraordinary companies do next,” said the blog post.
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