Instagram's Co-Founders Resign

26 September, 2018, 19:16 | Author: Sally Reid
  • Instagram chief Kevin Systrom

Koum's departure in May followed the exit of his WhatsApp co-founder Brian Acton.

He later tweeted, "The @instagram journey is one I won't forget. The founders closely guarded that", said Debra Aho Williamson, principal analyst at eMarketer.

Following the statement, Facebook chief executive Mark Zuckerberg said he "really enjoyed" working with the Instagram founders.

Instagram's two cofounders, Kevin Systrom and Mike Krieger, are leaving the company, they said in a statement on Monday night. "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", wrote Systrom on the Instagram blog.

These days, Instagram is Facebook's most prized possession, though the ouroboros of Instagram and Facebook is hard to parse.

With roughly 1 billion monthly active users and growing, Waral calculated that Instagram will take in more than $10 billion in revenue over the next 12 months. "Maybe they apply a small tweak [to Instagram] or find a better way of doing it". In fact, it's already done this by adding tools like messaging, the ability to mute users and indications showing whether someone is online.

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But Instagram has also been a case study in how to run a subsidiary independently - especially when its parent is mired in user-privacy problems and concerns about election interference, fake news and misinformation.

As such, he thinks Facebook would be wise to reassure users that what they love about Instagram isn't going to change - that they are not going to be forced to integrate with Facebook.

Instagram, meanwhile, has remained a bright spot for the company.

The two built Instagram and sold it to Facebook for $1 billion six years ago.

Facebook bought Instagram in 2012 and since then, the co-founders have been managing its operations. The company has started to disclose that the increasing number of ads on Instagram is a significant contributor to Facebook's revenue growth. "Instagram is the only platform that is growing". The company has proclaimed what it believes is a major and permanent shift of people's behaviour towards "stories", the short videos-plus-photos diaries that Snapchat pioneered and that Instagram copied to much success.

Kevin Systrom and Mike Krieger were responsible for that culture - the entire feel of an app that was in many respects the anti-Facebook. COO Sheryl Sandberg also noted ads have "expanded quite nicely" to Instagram, and it represents a "very healthy part" of growth, which is expected to continue.



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