Kevin Systrom and Mike Krieger jointly founded an Instagram photo sharing app in 2010. The duo are now the CEO and chief technology officer (CTO) of the Instagram photo sharing app, and have worked for Facebook since the social network made a famous deal.
The reason for the two co-fo founders' departure from the company has not been disclosed. However, according to some reputable newspapers, including the New York Times, the cause may be related to recent months of instability and scandals on Facebook, causing them to decide to leave the company.
The simultaneous breakup of the two co-fo founders of Instagram came just months after Facebook's Facebook messaging platform founder Jan Koum decided to resign.
Facebook acquired Instagram for about $1 billion in April 2012. To date, this social network has attracted more than 1 billion users worldwide. Instagram is considered Facebook's most successful acquisition. This social network quickly became a strong growth driver for Facebook in terms of number of users and advertising revenue.
Market research firm eMarketer estimates that Instagram has brought in 5.48 billion USD in net advertising revenue in the US this year, up 70.4% over last year and accounting for more than 1/4 of Facebook's mobile advertising revenue.
