Kevin Systrom and Mike Krieger abruptly resigned Monday night, leaving a leadership vacuum at the crown jewel of Instagram's troubled parent company. The messaging app's founders have been famously reluctant to introduce ads into the service, but that's also Facebook's primary way of making money.
He said he never became close to the Facebook chief, despite leading the company's most expensive acquisition.
According to a June analysis by Bloomberg, the value of Instagram has increased 100-fold since Facebook acquired it for $1 billion in 2012. "Building new things requires that we step back, understand what inspires us and match that with what the world needs". Mark Zuckerberg, Facebook's CEO, made a claim recently that Instagram grew far faster under Facebook's corporate umbrella than it could have if Instagram had stayed an independent company.
Either way, it seems that Facebook did not take its promise of granting full autonomy to Instagram, while Instagram, although handled Zuckerberg and his inner circle for 6 years - had enough and finally gave up and chose to stand up for what they believed in - Instagram's sovereignty.
Mark Zuckerberg in his statement "Kevin and Mike are extraordinary product leaders and Instagram reflects their combined creative talents, I've learned a lot working with them for the past six years and have really enjoyed it".
Brian Acton, co-founder of WhatsApp, speaks at the WSJD Live conference in Laguna Beach, California October 25, 2016.
Their departure adds to questions about Instagram's future as concerns about Facebook's approach to user data and foreign interference begin to take a toll on business. In April, The co-founder of WhatsApp, Jan Korum left company's board over reports as he had become disenchanted with Facebook's use of personal data.
American Bar Association urges postponement of Kavanaugh vote
Ford: "They were laughing with each other". "Two friends having a really good time with one another", she replied. Kavanaugh, 53, has strenuously denied assaulting anyone and insists he is the victim of a "smear campaign".
Their departure means there's a vacancy at the top of Instagram, the coolest and most design-oriented of Facebook's properties.
While Acton was one of the first founders of a company acquired by Facebook to leave, he wasn't the last.
And in the aftermath of what took place yesterday, apart from the initial story published in the New York Times, none of the PR people at both Facebook and Instagram had any statement to issue. "If you think about Instagram now versus a year or two ago, the amount of promotional advertising is markedly different".
As Facebook seeks to enhance Instagram monetization to make up for shortcomings elsewhere, and also tries to integrate the unit more closely into the parent's overall business, it is likely that Instagram's founders were not too happy with the business direction and erosion of operational autonomy.
The Instagram situation is similar, Kessler said.