Instagram’s Cofounders Abruptly Resigned

Instagram cofounders Kevin Systrom as well as also Mike Krieger are leaving the company they created. Late Monday, the pair abruptly announced of which they were stepping down as the chief executive as well as also chief technical officer of the social network. Facebook, which found out about their decision yesterday, were blindsided by the announcement, sources familiar with the matter told BuzzFeed News.

In a statement, Systrom wrote, “We’re planning on taking some time off to explore our curiosity as well as also creativity again … We remain excited for the future of Instagram as well as also Facebook from the coming years as we transition via leaders to two users in a billion.”

Systrom as well as also Krieger founded Instagram in 2010 as well as also sold the item to Facebook for $1 billion in 2012. As of of which summer, Instagram had 1 billion monthly active users.

of which isn’t the only recent exit of a high-profile founder of a company acquired by Facebook. Recently, the founders of WhatsApp, bought by Facebook in 2014, both left the company after reportedly clashing with Facebook executives over privacy issues.

the item’s unclear what Systrom as well as also Krieger plan to do next, or exactly why they decided to leave at of which moment. the item’s also unclear what the future of Instagram will be without its cofounders in place inside Facebook.

Facebook CEO Mark Zuckerberg said in a statement, “Kevin as well as also Mike are extraordinary product leaders as well as also Instagram reflects their combined creative talents. I’ve learned a lot working with them for the past six years as well as also have definitely enjoyed the item. I wish them all the best as well as also I’m looking forward to seeing what they build next.”

Here can be Systrom’s statement in full:

Mike as well as also I are grateful for the last eight years at Instagram as well as also six years with the Facebook team. We’ve grown via 13 people to over a thousand with offices around the entire world, all while building products used as well as also loved by a community of over one billion. We’re currently ready for our next chapter.

We’re planning on taking some time off to explore our curiosity as well as also creativity again. Building fresh things requires of which we step back, understand what inspires us as well as also match of which with what the entire world needs; of which’s what we plan to do.

We remain excited for the future of Instagram as well as also Facebook from the coming years as we transition via leaders to two users in a billion. We look forward to watching what these innovative as well as also extraordinary companies do next.

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