Kevin Systrom and Mike Kriegersaid they are resigning to "explore our curiosity and creativity again", but did not give specific reasons for the departure.
On Facebook's second-quarter earnings call, Chief Executive Mark Zuckerberg said, "We believe Instagram has been able to use Facebook's infrastructure to grow more than twice as quickly as it would have on its own".
"Kevin and Mike are extraordinary product leaders and Instagram reflects their combined creative talents", Zuckerberg said in a statement on Monday.
"We're now ready for our next chapter", Systrom said in a blog post, speaking on behalf of Krieger and himself. They clearly want to build something new, but it "requires that we step back". A report claims the pair left over disagreements with Facebook CEO Mark Zuckerberg.
"Facebook officials, including Mr. Zuckerberg, clashed with the co-founders over growth tactics and how to more rapidly expand the photo-sharing app's user base", the Wall Street Journal reports. Menlo Park, California-based Facebook is still a drag on technology stocks, which overall have propelled the US stock market to record highs. Instagram largely operated as a standalone company within Facebook, and now some of that autonomy could disappear.
Facebook "has become more reliant on Instagram in planning" for its future, according the Times' sources.
The co-founders of Instagram are resigning their positions with the social media company without explanation. Its rapid growth and user engagement caught the eye of Facebook, which was on the lookout for any services that might threaten its dominance of the social network space.
"To the extent that their departures represent Zuckerberg exercising more power and being less accountable, such a development would underscore the need for an independent board chair", said Jonas Kron, senior vice president at Trillium Asset Management.
Facebook shares were down 1% to $163.66 on Tuesday morning, and have slumped 7.5% for the year so far.
The departures raise questions about Instagram's future at a time when Facebook faces its most sustained set of crises in its 14-year history.
Unconfirmed rumours suggested that the Instagram founders were getting exhausted of working with Mark Zuckerberg, who allegedly is taking more of an involvement in running the popular picture app as users desert Facebook.
Instagram had around 30 million users in 2012, the year it was purchased by Facebook. Koum had signaled years earlier that he would take a stand if Facebook's push to increase profits risked compromising core elements of the WhatsApp messaging service, such as its dedication to user privacy.
The Timberwolves held their media day on Monday and Butler was excused from participating, but he did take his physical. Only time will tell whether or not the Heat are able to make the most attractive offer and get the deal one.
What is known, however, is that the only person who addressed the report on the record, Rosenstein himself, denied it completely. President Donald Trump looks on at the crowd during a rally at JQH Arena in Springfield, Mo., Sept. 21, 2018.
Congress president Rahul Gandhi, who has been targeting Modi sarkar over Rafale deal with France, has now got a shot in the arm. For its part, Dassault Aviation said in a statement Friday that the contract was "a government-to-government agreement".
They hurled insults at Democrats and implied that opponents had crafted a grand scheme to torpedo the nominee. Debra Katz, one of Ford's lawyers, asked by email. "They're really con artists", Trump said of Democrats.
On Wednesday, Premier Li said that his government wouldn't devalue the currency in order to boost its exports amid the trade war. President Donald Trump said on Monday that he would impose 10 percent US tariffs on about $200 billion worth of Chinese imports.
Tomorrow is the Europa League , Sunday is Premier League, then it's Carabao Cup and then we're going to play in FA Cup. "I think for that we have to respect all teams in all competitions to give all games 100%".
And the BBC pundit believes that Jose Mourinho could do with his near-namesake in the heart of United's midfield. I think opponents get scared when they see Manchester United constantly attacking. "We should move more, yeah".
The 49ers are investing five years and $137.5 million into the Eastern Illinois product, and a wasted season is wasted dollars. However, the medical staff began checking Garoppolo's left knee, which appeared to buckle on replay as he made his final cut.
The 31-year-old insists that West Ham have a good squad and need to make sure they can keep winning at the London Stadium. The last three matches between the two clubs were 2-1 for Chelsea , 1-0 for West Ham, and a 1-1 draw in April.
Beijing and Washington are locked in a festering trade war with both sides hitting each other's goods with tariffs worth billions. Efforts at diplomacy have failed, with no breakthroughs since high-level talks began in May.
Ronaldo, Messi to miss FIFA The Best awards
Luka Modric has been named Federation Internationale de Football Association men's Player of the Year. France's World Cup-winning boss Didier Deschamps was named men's coach of the year.
Trump calls accusations against Kavanaugh 'totally political'
In his response to the allegation, Kavanaugh in a statement on Sunday said: "This alleged event from 35 years ago did not happen". Calling it "smear", Kavanaugh noted that he "looks forward" to his upcoming testimony and "defending [his] good name".
Deputy AG Rosenstein is expecting to be fired
And they have said the president risks sparking a constitutional crisis if he tries to derail the special counsel investigation. Either way, Rosenstein is out of a job, which could jeopardise the Robert Mueller's Russian Federation investigation.
Superb Moutinho goal earns Wolves point at Man Utd
Mourinho said: "If we had played against Wolves like we played against Tottenham, then I think we win". So yes, it's a mental situation. "Of course, we had a better result and one point is better than zero.