Instagram co-founders Kevin Systrom, Mike Krieger reportedly step down

Instagram Co-founders Kevin Systrom and Mike Krieger Step Down'To Build New Things

Instagram CEO Kevin Systrom and Chief Technical Officer Mike Krieger notified Instagram and Facebook executives of their decision on Monday, the Times reported, citing unidentified sources described as having direct knowledge of the matter.

Meanwhile, Bloomberg reported that the pair is leaving after clashing with Facebook founder Mark Zuckerberg, who has reportedly taken a closer interest in the app as his company has increasingly depended on it for future growth.

Instagram's two co-founders are stepping down from the company, according to a report by The New York Times. They confirmed their departure in a blog post, although Facebook didn't immediately have a comment on the tension.

Back then Instagram was ad-free, with a loyal following of 31 million users who were all on mobile devices - at the time, still a somewhat elusive demographic for Facebook. We're now ready for our next chapter.

Mike and I are grateful for the last eight years at Instagram and six years with the Facebook team.

Instagram, which Facebook bought in 2012 for $1 billion, has more than 1 billion active monthly users and has grown by adding features like messaging and short videos.

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"Building new things requires that we step back, understand what inspires us and match that with what the world needs".

Zuckerberg said that he was looking forward to seeing what the pair did next adding that he had learned a lot from working with them.

Instagram has largely escaped Facebook's high profile problems with privacy, foreign election interference and fake news and has been able to maintain a younger user base than its parent company.

Koum's departure in May led to a reshuffling of Facebook's executive ranks.

In the most recent call, Zuckerberg explained that Instagram grew twice as fast being part of Facebook as it could have on its own, a statement that many Instagram insiders felt was unnecessary and unprovable.

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