Instagram founders leaving firm
September 25, 2018
The co-founders of social media sharing app Instagram are both leaving the firm. Kevin Systrom, CEO, confirmed that he and fellow CEO Mike Krieger were departing to “explore our curiosity and creativity again”.
In a blog post, Systrom explained: “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.”
Instagram was acquired by Facebook in 2012 for $1 billion plus stock and has over one billion global users. There has been multiple reports of tension between the pair and Facebook, but Systrom did not divulge any information pertaining to these rumours.