Instagram's co-founders resign from Facebook

Instagram co-founders Kevin Systrom and Mike Krieger are leaving the smartphone photo-sharing service bought by Facebook six years ago for a billion dollars, the New York Times reported late Monday citing unnamed sources.

Facebook's increasingly heavy-handed influence over its acquisition has frustrated Instagram's team, especially Krieger and Systrom.

The co-founders didn't reveal any specifics about their future plans other than the fact that they intend on taking some time off to explore their "curiosity and creativity again".

It was not immediately clear when their last day will be, but it will be soon, according to Instagram. Spokespeople for Facebook and Instagram declined to comment further on why the executives had made a decision to step down, both CNN and The New York Times reported.

She said one of the key reasons why Instagram has done so well is because it's been integrated into Facebook's advertising system.

Instagram founders Kevin Systrom and Mike Krieger have resigned from their leadership roles and are leaving Facebook.

Facebook has a history of clashing with the leaders of companies it acquires. "I wish them all the best and I'm looking forward to seeing what they build next", he said.

Senate GOP gives counteroffer to Christine Blasey Ford for hearing
That showdown, should it occur, could play out on national television and settle whether Kavanaugh's nomination survives. Even so, top Senate Republican Mitch McConnell told supporters on Friday that he has no doubt about the outcome.

Russian Federation warned Israel before downing of plane
Putin says "a chain of tragic circumstances" is to be blamed for a Russian military aircraft shot down by a Syrian missile. Russian Federation is providing Syria an air missile system, which is drawing strong objections from Israel.

Twitter reacts as Mourinho blames Manchester United players for draw against Wolves
That's my way of thinking - we should move better. "It's true that maybe we should have showed more hunger in some parts". After a disappointing result, that should be exactly what Manchester United players and their fans want to hear.

Its chief executive and co-founder Jan Koum said in April he would quit the popular messaging service he co-founded in 2009 and sold to Facebook in 2014. Market-research firm eMarketer estimates Instagram's world-wide ad revenue will grow 110% this year to nearly $9 billion.

Bloomberg noted that Instagram has featured more prominently in Facebook's earnings calls, with Zuckerberg saying it is grown twice as fast as it would have without the parent company.

While making features available on both platforms expands the number of customers advertisers can reach, it also raises the question of "whether or not these options provide unique, differentiated opportunities for advertisers", said James Douglas, head of media for Reprise, a digital ad agency owned by Interpublic Group.

In March, in the week Mr Zuckerberg apologised for the handling of a historic data breach, Facebook ended $58bn (£44bn) lower in value.

Instagram attracts a younger cohort of users who are critical to Facebook's growth. Menlo Park, California-based Facebook is still a drag on technology stocks, which overall have propelled the US stock market to record highs. Instagram was a bright future for the company.

Many see Facebook as being the main vehicle for spreading false information in recent years, and of being used by nefarious interests out to sway the results of the elections such as the one that put President Donald Trump in the White House. Similar reports followed the resignations of WhatsApp's founders.

(Copyright © 2015. All Rights Reserved.)
 
Recommended

Trump orders declassification, release of Comey texts
Burr previously broke with his House Intelligence Committee counterparts after they released a memo with details on the Page FISA. Adam Schiff of California, the top Democrat on the House Permanent Select Committee on Intelligence, said in a statement Monday.

Russian Federation says Syrian missile brought down aircraft
The Russian military accused Israeli pilots of using "the Russian plane as a cover, exposing it to fire from Syrian air defenses". While offering his honest condolences, Assad blamed the death of the Russian soldiers on the "Israeli smugness and arrogance".

Trump says no Federal Bureau of Investigation probe needed on Supreme Court pick
In her original post , King said she knew Kavanaugh and Mark Judge , the man Ford says was present during the alleged assault. Back in 1991, however, the FBI did investigate sexual harassment claims against then-Supreme Court nominee Clarence Thomas.

Lions Were Close To Trade With Patriots For Rob Gronkowski
Matt Patricia got his first win as head coach, out-dueling his mentor Bill Belichick in a game the Lions absolutely had to have. Schefter reports that Gronkowski threatened to retire upon learning of the talks and did not return any of the Lions' calls.

Vikings troll Bills for misidentifying Minnesota
After looking over the games, he saw the Buffalo Bills matched up against the Minnesota Vikings . Russell Bodine, who started at C for Ryan Groy, left with leg cramps in the third quarter.

U.S. to Consider Putting Military Base in Poland, Trump Tells Polish President
Kornhauser-Duda walks from vehicle as she arrives to be greeted by the Trumps. "I am with the president". They respect strength, as anyone does, and we have the greatest strength in the world, especially now".

Maurizio Sarri: Chelsea a 'step behind' Liverpool, says Blues boss
Chelsea midfielder Jorginho broke a Premier League record with his performance against West Ham United on Sunday afternoon. We have started to work altogether 40 days ago and less time with the worldwide teams.

Dallas police officer Amber Guyger fired over Botham Jean shooting
A protest by the Next Generation Action Network was still scheduled to be held at the Dallas Police Department on Monday night. In a statement , the Dallas Police Department said Guyger was terminated during a hearing with the chief Monday morning.

Tyson Fury calls out Anthony Joshua following Alexander Povetkin fight
For Povetkin, this is likely to be the end at the top level and he gave it his all, wobbling Joshua on a few occasions early. Both boxers shipped punishment, with Povetkin sporting a significant cut to the left eye.

UEFA opens disciplinary proceedings against Ronaldo
And Lippi could not hide his bemusement at the decision, which saw Ronaldo break down in tears on the Mestalla pitch. The world rightly considers Ronaldo a star, but first of all he's a lad who is always respectful and very helpful.

Rosenstein, expecting to be fired, heads to White House
But let me clear about this: "Based on my personal dealings with the president, there is no basis to invoke the 25th Amendment". While Sessions has taken the brunt of Trump's public anti-Mueller anger, Rosenstein continued to be targeted by Trump's allies.

Nolte: Every Witness Named by Kavanaugh's Accusers Sides with Kavanaugh
Kavanaugh and she has no recollection of ever being at a party or gathering where he was present, with, or without, Dr. Noor Al-Sibai is a news writer at Raw Story. "I remember a penis being in front of my face", she said.

Jorginho Sets Remarkable Premier League Record in Chelsea's Draw With West Ham
Since then he's been brilliant, he trains fantastic and he deserves that game tomorrow . "Wow. It's only because the game is so quick and so intense he needs to get "natural".

Trump's Supreme Court pick faces new misconduct claim - USA
Mr Kavanaugh said Dr Ford's friend does not remember being at a party with him, nor has anyone corroborated the accuser's story . Kavanaugh's march toward Senate confirmation has been rocked by allegations of decades-old sexual improprieties from two women.

Mourinho won't name Pogba captain again
Moments later, United goalkeeper Sergio Romero saw red for handling another Wilson effort outside the area. The person who made the decision to be second-captain was also me".


More News

News
More News