The co-founders of Instagram has announced his departure from Facebook

Adjust Comment Print

However business media in the United States have suggested that Systrom and Krieger did not see eye to eye with Zuckerberg in the way Instagram is moving forward. Instagram, meanwhile, continues to amass new users at a steady clip, with the app expected to surpass 2 billion users within the next five years, according to Bloomberg Intelligence. Facebook was not prepared for the news.

"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", Systrom said. "We look forward to watching what these innovative and extraordinary companies do next". Implementing "regrams" - similar to Twitter's retweets and Facebook's "sharing" - would fundamentally change how Instagram works. As of now, there is no mention of their replacement, so the future of the app is still up for speculation. Suck up personal data for advertising the way its parent Facebook does? Snapchat user growth has struggled since Snap went public in early 2017, as Facebook and Instagram continue to borrow the service's most popular features and win over more young users.

In the past year or so, Facebook has lost several top executives at its biggest acquired properties.

More news: India vs Bangladesh on September 28

Now, with the departures of the founders, the efforts to squeeze more revenue out of Instagram will only get stronger. The trend isn't helped by heightened government scrutiny over privacy and election interference. Facebook's stock tanked after these revelations with the company losing billions of dollars in value. In the interview, Systrom spoke about his decision to sell Instagram to Facebook, and how he was initially optimistic about the relationship. At the time, the photo-sharing site had over 30 million users. Whatsapp co-founder, Brian Action also tweeted about Facebook, where he used hashtag #DeleteFacebook. While not particularly revealing, the measurement underscores the growing importance Facebook places on those secondary apps.

Despite three years at Facebook and heading up its most expensive acquisition to date, Acton said he never became close to Zuckerberg. That was followed by the rollout of Instagram's IGTV, an app that allows anyone to produce and post longer-form videos.

Systrom had been serving as the CEO, while Krieger was the chief technical officer. That meant he had less of an avenue to speak directly with Mr Zuckerberg on product-specific issues, the people said.

More news: Trump describes Kavanaugh as a ‘gem,’ says he’s been maligned by Democrats

Facebook acquired Instagram in April 2012 for $1 billion and WhatsApp in 2014 for a steep $19 billion.

Especially in the face of a raft of senior-level executives - Jan Koum, Elliot Schrage, Colin Stretch, Alex Stamos, Dan Rose and most recently Rachel Whetstone - leaving Facebook for unknown ports of call. Now that they're gone as well, Mosseri is the most obvious candidate to head Instagram. He and other executives were frequently and aggressively challenged over Facebook's role in the scandal and its wider impact on society.

More news: I've gone up a level under Maurizio Sarri, says Eden Hazard