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Instagram founders exit Facebook

Kevin Systrom and Mike Krieger, founders of Instagram who sold it for $1 Billion to Facebook, left the company yesterday. An official reason was not given for their departures however industry scuttlebutt was that the duo was not happy with the direction Facebook was taking the app with increased advertising.

The following statement was provided by Systrom:

Mike and I are grateful for the last eight years at Instagram and six years with the Facebook team. We’ve grown from 13 people to over a thousand with offices around the world, all while building products used and loved by a community of over one billion.”

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