Instagram Founders And Leaders Announced Their Resignations

According to the US news portals, Kevin Systrom and Mike Krieger would not have appreciated Mark Zuckerberg’s growing investment in their application business. In yet another hard blow for Facebook, the two founders and leaders of Instagram, the photo-sharing application acquired by the world’s most extensive social network, Facebook, in 2012, have announced their resignation and will leave the company “in the upcoming weeks.” Sources close to the two men report strained relations with Mark Zuckerberg as the main reason for their resignations.

Kevin Systrom, Instagram’s CEO, and Mike Krieger, Director of Technology Affairs, informed the rest of the management team and Instagram’s parent company, Facebook, on Monday, of their decision, but without giving a clear explanation, as revealed by the New York Times, before the two founders confirm the news via an official statement.

“We want to take some time to explore our curiosity and creativity again,” writes Kevin Systrom, who points to the need for him to “step back” before launching new projects. Facebook, for its part, has not yet commented on these departures.

Instagram founders and leaders, Kevin Systrom and Mike Krieger, resigned due to strained relationships with Mark Zuckerberg, some sources said

While the two Instagram founders and leader did not give an apparent reason for their resignation, yet, several sources from Facebook have told Bloomberg that both Kevin Systrom and Mike Krieger had strained relationships with Mark Zuckerberg because of controversies regarding Facebook boss’s investments in Instagram.

This announcement comes when the Instagram application is fortifying its position as the leader of the social networks.

Created in 2010 and bought by Facebook in 2012 for $1 billion, Instagram has primarily monetized its audience in recent years, adding ads and other sponsored content to the application. In June, Instagram announced that it had passed the billion-user mark, benefiting in particular from the growing popularity among young people, a target that Facebook is now struggling to reach.

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About the Author: Anna Galvez

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