Instagram Co-founders Leaves Firm

By Faith Magbanua, September 26, 2018 01:09 AM


The co-founders of multi-billion photo-sharing giant Instagram, Kevin Systrom and Mike Krieger, are both leaving the firm.

In a statement released by Systrom, chief executive of Instagram, he said that that were departing to "explore our curiosity and creativity".

Instagram, which was purchased by Facebook in 2012 for $1bn (£760m) in cash and stock, now has more than one billion users.

Trouble in Paradise?

On the other hand, the exit comes amid reports of tension between Instagram's co-founders and Facebook's leadership.

Both Systrom and Krieger started the image sharing site in 2010, and continued to run the service after it was acquired by Facebook two years later.

According to the pair, they reportedly only told the Facebook leadership on Monday so the departure appears pretty sudden.

In a blog post, Systrom said: "We're now ready for our next chapter. 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."

There was no bitterness in the blog post. Systrom said the pair both remained "excited for the future of Instagram and Facebook".

However, CEO Mark Zuckerberg said in a statement that Instagram reflected the founders' "combined creative talents".

"I've learned a lot working with them for the past six years and have really enjoyed it," he said. "I'm looking forward to seeing what they build next."

Systrom and Krieger, who are both in their 30s, met while studying at Stanford University.

The two were inspired to create the Instagram app - originally launched just for iPhones in 2010 - by old Polaroid pictures.

Instagram had around 30 million users in 2012, the year it was purchased by Facebook for what appeared to be an eye-watering $1bn.

Before the purchase, the app was also ad-free. That changed. But so did the number of users - now more than a billion.


Related Article

Must Read

comments powered by Disqus

More from CCD

Chinese Box Office Revenue for 2018 Slowed in Growth

How did the Chinese box office fared last year?

Hainan Airlines introduces New Flights to Los Angeles

A new direct flight is added to Hainan Airlines' destinations.

Changsha to Host FIBA 3X3 Asia Cup

The FIBA 3X3 Asia Cup has a new home for the next three years

Instagram Returns to Normal After Bug Changed Feeds

The bug that paralyzed Instagram this week has now been fixed.

Five Chinese Musicals Raked Awards at Qianqiao Musical Awards

Check out the winners of the third Qianqiao Musical Awards.

Peppa Pig Releases Chinese New Year Special Film

Peppa Pig and her friends will be celebrating Chinese New Year in a new film.

'Aquaman' Remains King at the Chinese Box Office

Check out the rankings of the Chinese Box Office this week.

"Thugs of Hindostan" Set to Debut in China

Check out when Aamir Khan's latest movie in its Chinese debut

"A Dog's Way Home" to Premiere in Chinese Cinema

Which movie will sum up the year of the dog?

HBO Asia and China Movie Channel to Produce New Kung Fu Films

New kung fu films will be making their debut next year.