Facebook Takes a Hit as Instagram Co-Founders Suddenly Quit

BusinessFacebook Takes a Hit as Instagram Co-Founders Suddenly Quit

Facebook Takes a Hit as Instagram Co-Founders Suddenly Quit

Both founders of Instagram, CEO Kevin Systrom and CTO Mike Krieger suddenly resigned. The co-founders will be stepping down in a few weeks in order to “build new things.”

CEO and CTO Stepping Down

Instagram co-founders, CEO Kevin Systrom and CTO Mike Krieger, have announced that they will be stepping down. The resignations were sudden and unexpected, and without any specific explanation. They will be leaving the company in a few weeks, six years after the company was purchased by Facebook.
Systrom released a statement on behalf of himself and Krieger. In it, he explained that they would be stepping down to “explore our curiosity again.” Systrom added that “Mike and I are grateful for the last eight years at Instagram and six years with the Facebook team.”

“Ready for Our Next Chapter”

The CEO described the growth of the company from 13 people when they first launched the platform, to “over 1,000 with offices around the world, all while building products used and loved by a community of over one billion. We’re now ready for our next chapter.”

Systrom described their intentions to take some time off “to explore our curiosity and creativity again.” He underscored their hope to create something new. “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.”
Both the CEO and CTO continue to have faith in the future of Instagram, as well as in its parent company, Facebook. They expressed their confidence that the companies will have a strong future as they “transition from leaders to two users in a billion.” They said they were looking forward to finding out what will come next for both social media platforms.

Zuckerberg’s Response

Facebook CEO Mark Zuckerberg released a statement in response to the departure of both Instagram founders. He called the Instagram CEO and CTO “extraordinary product leaders” and said that the company they had created “reflects their combined creative talents.” He credited them with teaching him “a lot” over the previous six years and with having “really enjoyed it.”
“I wish them all the best and I’m looking forward to seeing what they build next,” said Zuckerberg. That said, their departure could create new struggles for Facebook. This is particularly true as it follows closely on the heels of WhatsApp CEO Jan Koum’s resignation over the addition of advertising to that popular mobile messaging platform.