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Instagram founders resign; Leaving Facebook amid conflict over photo app's direction

28 September, 2018, 13:51 | Author: Rafael Roberts
  • Why Instagram co-founders resigned

The New York Times, The Information, and Cheddar's Alex Heath have all tipped Mosseri, who has worked at Facebook for more than 10 years, as the man to beat.

As you know, Kevin Systrom and Mike Krieger founded Instagram in 2010, and in 2012 the company acquired the social network Facebook. "They hadn't gotten the sense they [Systrom and Krieger] were on the way out". However business media in the U.S. have suggested that Systrom and Krieger did not see eye to eye with Zuckerberg in the way Instagram is moving forward. Tensions with Zuckerberg were cited by many reports and analysts as the reason for their exit.

Facebook's shares are now down about 6 percent this year, following six years of stellar gains.

Facebook CEO Mark Zuckerberg praised the departing Instagram leaders for "their combined creative talents", saying "I've learned a lot working with them".

The Instagram departures rattled some investors already concerned about Zuckerberg's dominance at the company.

Facebook is still a drag on technology stocks, which overall have propelled the USA stock market to record highs. "Facebook is too big and too complex for one person to have this much power". Systrom and Krieger confirmed their departure from Instagram through an official blog, stating the two are taking time off to build new things.

With Facebook's help, Instagram grew "more than twice as quickly as it would have on its own", Mr Zuckerberg said in July - a comment that Instagram employees felt was unprovable, and took as evidence of the billionaire's desire to take credit for Instagram's rise.

There were incrementally tougher fights over WhatsApp's encryption and the need (as FB management saw it) to monetize it more.

Facebook shares are down more than 6% in 2018 after rising in every one of the previous five years. Only 52 percent of surveyed teens said they used Instagram.

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 an independent operation, the people said.

WhatsApp cofounder Brian Acton, dressed in a WhatsApp baseball cap and T-shirt, said those words while sitting down with a Forbes reporter in the cafe of the Four Seasons hotel in Palo Alto as part of an interview offering something we rarely get a look at.

The Instagram situation is similar, Kessler said. "If you think about Instagram now versus a year or two ago, the amount of promotional advertising is markedly different". Monday, Systrom announced they are "ready for our next chapter".

They didn't provide a reason for quitting, but in the last interviews he gave before announcing his departure, Systrom may have hinted at why he and Krieger made a decision to leave the company.


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