Title: "Instagram Appoints Adam Mosseri as New Leader Amid Founders' Departure - What Does This Mean for Investors?"
In a recent announcement, Instagram revealed that Adam Mosseri will be taking over as the new leader of the popular photo-sharing app. This change comes after the departure of Instagram founders Kevin Systrom and Mike Krieger, who recently announced their decision to leave the company.
Systrom and Krieger expressed their confidence in Mosseri, highlighting his strong design background and focus on community. Mosseri, who has been with Facebook since 2008, will now oversee all functions of the business and will be responsible for building a new executive team.
Before stepping down, Systrom served as CEO while Krieger held the role of chief technology officer. The duo founded Instagram in 2010 and grew it into a popular platform with millions of users before selling it to Facebook in 2012.
With Facebook's support, Instagram continued to expand and introduce new features such as videos, disappearing posts, and the recent addition of IGTV. The app now boasts over 1 billion monthly active users, making it a valuable asset for Facebook.
While it's common for founders to leave after their company is acquired, Systrom and Krieger's departure after six years at Facebook is noteworthy. Their exit follows a trend of founders leaving tech companies after acquisition, as seen with Jan Koum stepping down as CEO of WhatsApp earlier this year.
The future plans of Systrom and Krieger remain unclear, but their departure signals a new chapter for Instagram under Mosseri's leadership. Investors should keep an eye on how this leadership change impacts the app's growth and development in the coming months.