Instagram’s co-founders quit their social media app
Instagram’s co-founders are leaving the firm.
Kevin Systrom and Mike Krieger are stepping down six years after Facebook bought their social media app for $1bn (£760m).
The photo-sharing behemoth today boasts more than 1bn users, up from 30m at the time Facebook bought it, but the co-founders’ departure follows rumours of tensions between them and Facebook management, with key executives replaced by Facebook staff.
“We’re now ready for our next chapter,” Systrom said in a statement.
“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.”
He added: “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.”
Facebook boss Mark Zuckerberg hailed the pair’s “combined creative talents”, adding: "I've learned a lot working with them for the past six years and have really enjoyed it. I'm looking forward to seeing what they build next."
Systrom and Krieger met studying at Stanford, launching Instagram eight years ago inspired by their love of old Polaroid pictures.
They are not the only creators of a Facebook acquisition to quit their creation – Whatsapp’s Jan Koum left the messaging app in April.
“I'll still be cheering WhatsApp on – just from the outside,” he said at the time.