Instagram Co-founders, Kevin Systrom and Mike Krieger are the latest top executives to announce their resignation as heads of billion dollar companies.
The duo stated their reason for leaving as wanting to ‘our curiosity and creativity again.’ But their announcement comes amid rumors that there is some tension between the Instagram co-founders and Mark Zuckerberg. This growing tension is about the direction of the business.
The duo, who have been at the company since Instagram’s acquisition by Facebook in 2012, had been able to keep the brand and product independent while relying on Facebook’s infrastructure and resources to grow.
Recent trends have seen Zuckerberg become more involved in the day to day of Instagram, thus eroding the independence the co-founders used to enjoy. Instagram will very likely become integrated with Facebook, making it more of a product division as opposed to an independent operation, the people said.
In a statement on Monday, Systrom, the CEO of the company, said he and Krieger were looking forward to ‘taking some time off to explore our curiosity and creativity again’. He said they were grateful for ‘the last eight years at Instagram and six years with the Facebook team.’
Zuckerberg issued a public statement about the departure saying he had ‘really enjoyed’ working with Systrom and Krieger.
‘Kevin and Mike are extraordinary product leaders and Instagram reflects their combined creative talents,’ wrote Zuckerberg. ‘I’ve learned a lot working with them for the past six years and have really enjoyed it. I wish them all the best and I’m looking forward to seeing what they build next.’
The photo and video-sharing social networking service owned by Facebook, Inc was bought for approximately US$1 billion in cash and stock. In Dec 2013, Instagram introduced a DM feature. In August 2016, it created the Insta Stories feature patterned after the SnapChat feature where content remains for 24 hours and then disappears.
The duo will be the second top execs to leave the Facebook umbrella after the exit of Jan Koum, co-founder of Whatsapp in Jan 2018.