Instagram is considered one of Facebook's most successful acquisitions today, having grown its user base from 30 million people in 2012 when it was acquired by the social media giant to 1 billion monthly active users as of June 2018. In a sudden turn of events, however, its co-founders Kevin Systrom and Mike Krieger have reportedly decided to resign from Instagram's parent company, Facebook.
Citing sources familiar with the situation, The New York Times reports that Systrom and Krieger are set to depart Instagram in the coming weeks, though the reason for their resignation is not immediately known. The two executives will supposedly be taking some time off after they leave the company, the report states.
Systrom and Krieger's departure is expected to compound the challenges currently facing the social networking giant, which has been criticized for mishandling its trove of user data over the Cambridge Analytica mishap. Facebook is also grappling with the proliferation of fake news on the platform and its admittedly 'corrosive" effect on democracy.
Instagram's co-founders are just the latest batch of high-ranking executives who've joined Facebook as part of an acquisition but have left the company a few years later. Earlier this year, Jan Koum, the chief executive of WhatsApp, announced his resignation from Facebook reportedly due to their differing views on encryption. A few months prior to that, WhatsApp co-founder Brian Acton made his exit from the company to start a foundation. It remains unclear whether Systrom and Krieger have had some sort of misgivings about Facebook as well.
Source: The New York Times