BusinessWorld

Instagram co-founders Systrom and Krieger resign

San Francisco, Sep 25 (UNI) The co-founders of photo-sharing giant Instagram, Kevin Systrom and Mike Krieger have resigned.

Systrom, the chief executive of the app, said they were departing to “explore our curiosity and creativity”.
Instagram, which was purchased by Facebook in 2012 for $1bn (£76m) in cash and stock, now has more than one billion users, a report in BBC said.

The exit comes amid reports of tension between Instagrams’ co-founders and Facebook’s leadership.

BBC North America technology reporter Dave Lee says that Instagram’s popularity has soared in a period where use of the core Facebook product has stagnated.

This has put increased pressure on Facebook to squeeze more and more money from its users by adding new features some felt went against the Instagram app’s original focus on simplicity, our correspondent adds.

Kevin Systrom and Mike Krieger started the image sharing site in 2010, and continued to run the service after it was acquired by Facebook, the BBC reports added.

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