Report: Instagram co-founders step down from company

By REUTERS
September 25, 2018 06:20
1 minute read.
Breaking news

Breaking news. (photo credit: JPOST STAFF)

 
X

Dear Reader,
As you can imagine, more people are reading The Jerusalem Post than ever before. Nevertheless, traditional business models are no longer sustainable and high-quality publications, like ours, are being forced to look for new ways to keep going. Unlike many other news organizations, we have not put up a paywall. We want to keep our journalism open and accessible and be able to keep providing you with news and analyses from the frontlines of Israel, the Middle East and the Jewish World.

As one of our loyal readers, we ask you to be our partner.

For $5 a month you will receive access to the following:

  • A user experience almost completely free of ads
  • Access to our Premium Section
  • Content from the award-winning Jerusalem Report and our monthly magazine to learn Hebrew - Ivrit
  • A brand new ePaper featuring the daily newspaper as it appears in print in Israel

Help us grow and continue telling Israel’s story to the world.

Thank you,

Ronit Hasin-Hochman, CEO, Jerusalem Post Group
Yaakov Katz, Editor-in-Chief

UPGRADE YOUR JPOST EXPERIENCE FOR 5$ PER MONTH Show me later



Co-founders of Facebook Inc's 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.



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.

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

Join Jerusalem Post Premium Plus now for just $5 and upgrade your experience with an ads-free website and exclusive content. Click here>>

Related Content

Breaking news
October 22, 2018
Author of critical book on Egypt's economy arrested

By REUTERS