Quantcast
Connect with us

Instagram co-founders step down from company: NYTimes

Published

on

Co-founders of Facebook Inc’s (FB.O) Instagram, Kevin Systrom and Mike Krieger, have resigned as chief executive officer and chief technical officer, respectively, and plan to leave the photo-sharing app company in coming weeks, the New York Times reported late on Monday.

They have notified the photo-sharing app’s leadership team and Facebook on Monday about their decision to leave, the newspaper reported, citing people with direct knowledge of the matter.

ADVERTISEMENT

Systrom and Krieger did not give a reason for their departure, the paper said, adding that they planned to take time off after leaving Instagram.

An Instagram spokeswoman did not have immediate comment. Facebook was not immediately available to comment outside regular business hours.

Instagram, which Facebook bought in 2012 for $1 billion, has more than 1 billion active monthly users and has grown by adding features like messaging and short videos. In 2016, it added the ability to post slideshows that disappear in 24 hours, a copy of Snapchat’s popular “stories” feature.

Instagram is its parent’s fastest-growing slice of revenue, but it touts 4 million fewer monthly advertisers globally. As Instagram has shown more ads, the average price per ad across Facebook’s entire family of apps has declined earlier this year after a year of upswing. A new privacy law in Europe also has affected prices.

ADVERTISEMENT

The departure of Instagram co-founders comes months after the exit of Jan Koum, co-founder of WhatsApp, another Facebook unit.

Reporting by Bhargav Acharya in Bengaluru; Editing by Gopakumar Warrier

ADVERTISEMENT

Enjoy this piece?

… then let us make a small request. Like you, we here at Raw Story believe in the power of progressive journalism — and we’re investing in investigative reporting as other publications give it the ax. Raw Story readers power David Cay Johnston’s DCReport, which we've expanded to keep watch in Washington. We’ve exposed billionaire tax evasion and uncovered White House efforts to poison our water. We’ve revealed financial scams that prey on veterans, and legal efforts to harm workers exploited by abusive bosses. We’ve launched a weekly podcast, “We’ve Got Issues,” focused on issues, not tweets. And unlike other news outlets, we’ve decided to make our original content free. But we need your support to do what we do.

Raw Story is independent. You won’t find mainstream media bias here. We’re not part of a conglomerate, or a project of venture capital bros. From unflinching coverage of racism, to revealing efforts to erode our rights, Raw Story will continue to expose hypocrisy and harm. Unhinged from billionaires and corporate overlords, we fight to ensure no one is forgotten.

We need your support to keep producing quality journalism and deepen our investigative reporting. Every reader contribution, whatever the amount, makes a tremendous difference. Invest with us in the future. Make a one-time contribution to Raw Story Investigates, or click here to become a subscriber. Thank you. Click to donate by check.

Enjoy this piece?

… then let us make a small request. Like you, we here at Raw Story believe in the power of progressive journalism — and we’re investing in investigative reporting as other publications give it the ax. Raw Story readers power David Cay Johnston’s DCReport, which we've expanded to keep watch in Washington. We’ve exposed billionaire tax evasion and uncovered White House efforts to poison our water. We’ve revealed financial scams that prey on veterans, and efforts to harm workers exploited by abusive bosses. We’ve launched a weekly podcast, “We’ve Got Issues,” focused on issues, not tweets. Unlike other news outlets, we’ve decided to make our original content free. But we need your support to do what we do.

Raw Story is independent. You won’t find mainstream media bias here. We’re not part of a conglomerate, or a project of venture capital bros. From unflinching coverage of racism, to revealing efforts to erode our rights, Raw Story will continue to expose hypocrisy and harm. Unhinged from corporate overlords, we fight to ensure no one is forgotten.

We need your support to keep producing quality journalism and deepen our investigative reporting. Every reader contribution, whatever the amount, makes a tremendous difference. Invest with us in the future. Make a one-time contribution to Raw Story Investigates, or click here to become a subscriber. Thank you.



Report typos and corrections to: [email protected]. Send news tips to: [email protected].
READ COMMENTS - JOIN THE DISCUSSION
Continue Reading

Breaking Banner

Trump’s economic advisers baffled over how to hold off recession that his trade war set it in motion: report

Published

on

According to a report from ABC, Donald Trump's economic advisers are baffled about how to stop what appears to be a recession coming before the 2020 election after his trade war upset an already teetering worldwide economy.

With the report noting that Trump had hoped to run on a strong economy as part of his 2020 re-election strategy, warnings from economists that a recession may arrive before then has White House officials in a panic.

"The financial markets signaled the possibility of a U.S. recession this week, sending a jolt of anxiety to investors, companies and consumers. That's on top of concerns over Trump's plans to impose punishing tariffs on goods from China and word from the United Kingdom and Germany that their economies are shrinking," the report states, adding, "Trump advisers fear a weakened economy would hurt him with moderate Republican and independent voters who have been willing to give him a pass on some his incendiary policies and rhetoric."

Continue Reading

Facebook

Race to remember Berlin Wall victims, 30 years on

Published

on

Where guard towers and barbed wire once stood, runners pounded the 100-mile (160 kilometer) path along the former Berlin Wall this weekend in a race with victims of the Cold War relic at its heart.

On Saturday at 6:00 am (0400 GMT), around 500 runners, started the 8th edition of the Berlin Wall Race, ahead of the 30th anniversary of the Wall's demise this November.

With weary legs, most runners will jog through Saturday night, aiming to reach the city centre stadium which doubles as both start and finish, in the early hours of Sunday.

The race is part ultra-marathon, part tribute to those who died trying to cross the Wall, which the East German communist regime hastily erected in 1961 and stood for 28 years.

Continue Reading
 

Breaking Banner

Suspect behind NYC subway bomb scare arrested after being found unconscious in the Bronx: report

Published

on

On Saturday, CNN's New York correspondent Polo Sandoval reported that a suspect wanted for placing suspicious rice cookers in New York City subway stations has been arrested after being found unconscious at an address in the Bronx.

"Less than 24 hours it took the NYPD to track down this man in relation to the scare that took place here in New York City," said Sandoval. "A source close to the investigation saying that the individual that they were trying to track down to speak to was apparently placed into custody at about 2AM This morning. He was found unconscious in the Bronx here in New York. He is currently hospitalized."

Continue Reading
 
 

Thank you for whitelisting Raw Story!

As a special thank you, from now until August 31st, we're offering you a discounted rate of $5.99/month to subscribe and get ad-free access. We're honored to have you as a reader. Thank you. :) —Elias, Membership Coordinator
LEARN MORE
close-link
close-image