Instagram co-founders to step down from company to explore creativity

On Monday, co-founders of photo-sharing app Instagram Kevin Systrom and Mike Krieger resigned and planned to leave the company in the coming weeks. Anonymous sources to The New York Times stated that Systrom, 34, and Krieger, 32, notified Instagram’s leadership team and Facebook about their decision to leave. Reasons for stepping down were not specified, but they intended to take time off after, according to the sources. In a statement, Systrom said he and Krieger were “ready for our next chapter,” and hinted that they would create something new. “We’re planning on taking some time off to explore our curiosity and creativity again,” Systrom said. “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.” Mark Zuckerberg, CEO of Facebook, said, “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, when the site was used by around 30 million people. While this was one of Facebook’s most successful acquisitions, this departure poses the question about Instagram’s future while Facebook is under investigation. Facebook was allegedly careless with user data and did not prevent foreign interference across their network. This departure also comes only months after the exit of Jan Koum, the co-founder of WhatsApp, a Facebook owned messaging app. There are questions around Silicon Valley about who will lead Instagram and continue its success streak. The most acute long-term peril for Instagram is that it may become obsolete someday. Newer generations might adopt fresher pastures. The latest product launch of Instagram is called Instagram TV. It allows users to post long-form videos and establish their own personal channels. “Teens are watching 40 percent less TV than they were five years ago,” says Ashley Yuki, product manager for IGTV. “But they’re watching 60 percent more video on Instagram in just the last year.” “A lot of these creators have already amassed an audience on Instagram, using photos and short videos, that is looking to go deeper with them and get more from them,” she says. Earlier, the maximum length for a video on Instagram was 60 seconds, which meant that creators would have to post bigger content on other platforms, such as Youtube. IGTV was an attempt to compete with Snapchat and Youtube. There are currently no ads on IGTV, and they are unable to generate as much revenue as a platform like Youtube. But unlike anyone on the platform, IGTV broadcasters are able to do paid product endorsements, which has been an effective income strategy for Instagram’s current influencers. Further innovations to sustain the company and its products will rely on the next leaders of the app.