The development adds to the growing number of high profile executives, and co-founders leaving Facebook’s businesses.
In a development that adds to the growing list of executives leaving Facebook, Instagram has notified that Kevin Systrom and Mike Krieger, its co-founders, have resigned as the company’s chief executive officer and chief technical officer.
Facebook has provided very little information on their departure.
Systrom’s and Krieger’s departures come in thew wake of Jan Koum, co-founder of WhatsApp, leaving the company earlier this year. These departures leave the social networking giant without the developers behind two of its biggest services.
These developments come at a time when Facebook is under heightened scrutiny over safeguard measures of its user data, which has been repeatedly used for political gains. Concerns over Facebook’s business had sparked the biggest one-day wipeout in U.S. stock market history in July 2018.
According to a report from Bloomberg, the departures come midst increasingly frequent clashes with Facebook Chief Executive Mark Zuckerberg over the direction of Instagram.
Zuckerberg described the two as “extraordinary product leaders” in a statement. “I’ve learned a lot working with them for the past six years and have really enjoyed it. I wish them all the best and I’m looking forward to seeing what they build next”.
Facebook acquired Instagram in 2012 for $1 billion. With more than 1 billion active monthly users, the photo-sharing app has grown by adding features such as the ability to add short videos and messaging.
In 2016, Instagram added the feature to post slideshows that disappear in 24 hours, mimicking the “stories” feature of Snap Inc’s Snapchat.
The increasing use of advertising on Instagram has seen the average price-per-ad across Facebook’s apps drop this year after a year of upswing. Further, a new privacy law in Europe has also affected ad prices in its apps.
Video content has been a major emphasis for Facebook as it seeks to satisfy advertisers’ desire to stream more commercials online.