Economy

Blow to Facebook as Instagram co-founders quit

Blow to Facebook as Instagram co-founders quit

Co-founders of Instagram, Kevi Systrom and Mike Krieger, have resigned from the photo and video sharing social networking service, six years after the sale of the company to Facebook.

Systrom did not say why he and Krieger are leaving Facebook, which is facing one of the most turbulent times in its history. But eventually, they became frustrated with Zuckerberg's increased daily involvement with Instagram, according to the Times.

However, as per TechCrunch report, tensions between Instagram co-founders and Facebook leadership has only grown in recent times. It has become a bright spot within Facebook as the company for the first time deals with slowing growth.

The two departures are going to cost the Facebook a future as we are familiar with the fact that the app is under the eye of critics lately.

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"I've learned a lot working with them for the past six years and have really enjoyed it", he said. Zuckerberg simply wished them all the best for the future and is "looking forward to seeing what they build next".

Instagram founders Mike Krieger (L) and Kevin Systrom attend the 16th annual Webby Awards in New York May, 21 2012. Concerns over Facebook's business sparked the biggest one-day wipeout in USA stock market history in July.

The co-founders of the photo-sharing app Instagram, Kevin Systrom and Mike Krieger, have submitted their resignations to Facebook chief execute Mark Zuckerberg.

As for the reason for their exit, the pair "may have wanted to run Instagram more independently than their parent company wanted", Kessler wrote. Instagram is adding 300 million active users each month, whereas Facebook is adding 228 million to its main service. The issues have started taking a toll on Facebook's business, with the company saying in July that growth in digital advertising sales and in the number of its users had slowed.

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The platform has been a hit with young internet users, an audience that Facebook is keen to keep in its fold.

Facebook doesn't break out Instagram's revenue, but it has frequently called out the app in earnings calls.

Instagram had previously been seen as largely autonomous from Facebook's influence.

"No matter who takes the reins, marketers will continue to spend on the platform because there is no comparable alternative offer the same engagement and reach", Ben-Itzhak said. Brian Acton, WhatsApp's other co-founder, had already left the previous September.

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