Instagram founders quit Facebook

Tuesday, 25 September 2018, 04:30 Hrs
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Instagram founders Mike Krieger and Kevin Systrom have resigned from the Facebook-owned photo sharing app that has over one billion users.

According to a report in The New York Times late on Monday, the co-founders have resigned from their positions and plan to leave the company in coming weeks while the reason behind their move was still unknown.

Later, Systrom wrote in a blog post that they were planning on taking some time off to explore their curiosity and creativity.

"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 Systrom.

"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," the blog post added.

The resignations came at a time when social media platforms including Facebook were facing intense scrutiny over the spread of fake news and sinister campaigns.

Founded in 2010, Instagram was bought by Facebook for $1 billion in 2012.

Instagram's meteoric rise continued after the acquisition, dwarfing the stagnant growth rates of Snapchat and Facebook.

"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," said Systrom.



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Source: IANS
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