Instagram Founders Exit The Business

Instagram founders Mike Krieger (L) and Kevin Systrom accept their webby breakout of the year awards during 16th annual Webby Awards in New York May, 21 2012. REUTERS/Stephen Chernin (UNITED STATES - Tags: ENTERTAINMENT SCIENCE TECHNOLOGY)
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Instagram’s co-founders Kevin Systrom and Mike Krieger have left the business having started the photo-sharing business in 2010.

In 2012, Facebook bought Instagram for US$1 billion.

In a statement, Systrom said Krieger and himself were immensely proud of the start-up and are “ready for their enxt chapter”.

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

“We’ve grown from 13 people to over a thousand with offices around the world, all while building products used and loved by a community of over one billion.

“We’re now ready for our next chapter.

“We’re planning on leaving Instagram to explore our curiosity and creativity again.

“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.

“We remain excited for the future of Instagram and Facebook in the coming years as we transition from leaders to two users in a billion.

“We look forward to watching what these innovative and extraordinary companies do next.”

According to The Sydney Morning Herald, their departure follows a spate of internal upheaval at Facebook, with Systrom and Krieger reportedly fed-up with Facebook founder Mark Zuckerberg’s involvement in the Instagram’s day-to-day operations.

Commenting on their exit, Zuckerberg said in a statement: “Kevin and Mike are extraordinary product leaders and Instagram reflects their combined creative talents.

“I’ve learned a lot working with them for the past six years and have really enjoyed it.”

B&T has contacted Facebook for comment.

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