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Instagram Co-Founders Step Down, Want to Explore “Creativity Again” Kevin Systrom and Mike Krieger founded Instagram in 2010 which was acquired by Facebook in 2012

INSTAGRAM co-founders Kevin Systrom and Mike Krieger have announced that they will be stepping down from the photo-sharing app, six years after they sold it to Facebook for $1 billion.

“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,” they said in a statement.

The New York Times reported that the duo informed Facebook, their parent company, and Instagram management of their decision to leave on Monday.

“We’re planning on taking some time off to explore our curiosity and creativity again,” Kevin Systrom said in the statement.

Mark Zuckerberg has responded to the news saying: “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.”

Though the reason for their leaving isn’t clear, they have said that they will be taking time off and have hinted at a new venture.

“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,” said Kevin Systrom.

Bloomberg has reported that the two co-founders were getting frustrated with Zuckerberg’s increasing meddling in the Instagram’s day-to-day activities.

Facebook has had a tough few years. Beginning with allegations of manipulation of information on the platform during the 2016 US Presidential Elections, compromising and profiting from user data through Cambridge Analytica to not being able to curb rising fake news on its platform.

All this has taken a toll on Facebook with the company seeing a dip in their revenue from ad sales in the second quarter results.

There have also been fewer users coming on the platform. Several reports have indicated that Facebook was increasingly reliant on the steady stream of revenue brought in by Instagram.

And the pressure to maintain that might have contributed to the departure of the co-founders

The biggest concern now for Facebook would be to retain talent going forward.

In May this year, amid allegations of privacy breach by Facebook, board member and WhatsApp founder Jan Koum resigned from his position.

Brain Acton, who co-founded WhatsApp along with Koum, also left the company in September 2017.

Acton had urged everybody to “delete Facebook” in the wake of the Cambridge Analytica data scandal.

Though there hasn’t been an announcement about who will take over Systrom and Krieger’s positions, there are speculations that Adam Mosseri, who was brought from Facebook to Instagram as head of product, will likely take on the role.

~ENDS~

 

 

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