Instagram founders leave Facebook to 'build new things'

Instagram: Krieger and Systrom
Instagram: Krieger and Systrom

Facebook bought the photo-sharing social network in 2012 for $1bn.

Instagram founders Kevin Systrom and Mike Krieger, who sold their company to Facebook for $1bn six years ago, are leaving.

The duo issued a statement confirming their departure, which was first reported by The New York Times, and saying they plan to "build new things".

"We’re planning on taking some time off to explore our curiosity and creativity again. 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," they said.

The landmark purchase of Instagram in 2012 helped Facebook broaden its offer to advertisers and attract new audiences.

The departures of Systrom and Krieger follow that in April of Jan Koum, the founder of WhatsApp, which was bought by Facebook in 2014 for $19bn.

Subscribe today for just $89 a year

Get the very latest news and insight from Campaign with unrestricted access to , plus get exclusive discounts to Campaign events

Become a subscriber


The latest work, news, advice, comment and analysis, sent to you every day

register free