Instagram's co-founders resign from Facebook

Social media apps

Instagram's founders Mike Krieger and Kevin Systrom have resigned, leaving the company they created in the hands of Facebook's executives.

"We’re planning on taking some time off to explore our curiosity and creativity again," said Systrom in a blog post. "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."

Systrom's statement suggests an amicable departure, but anonymous sources have told Bloomberg that their decision stemmed from tensions with Facebook's CEO Mark Zuckerberg, who had become more reliant on Instagram as part of his future plans.

Two in a billion

Facebook bought Instagram for $1 billion (about £760 million, AU$1.4 billion) in 2012, two years after it was founded.

At the time, Zuckerberg confirmed that Instagram would continue to develop as a standalone service and exist independently, but it seems that wasn't enough to keep Krieger and Systrom on board.

“Kevin and Mike are extraordinary product leaders and Instagram reflects their combined creative talents,” Zuckerberg said in a statement following the pair's departure. “I’ve learned a lot working with them for the past six years and have really enjoyed it.”

Krieger was equally diplomatic, and although he didn't mention Zuckerberg by name, he wished both companies the best.

"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."

Via The Verge