Facebook shares down as Instagram founders become latest execs to exit

Instagram's Kevin Systrom and Mike Krieger will apparently leave in a matter of weeks

Instagram's Kevin Systrom and Mike Krieger will apparently leave in a matter of weeks

It just got even worse.

Krieger and Systrom together founded Instagram in 2010, and it was acquired by Facebook for $1 billion in 2012.

Systrom and Krieger say they are grateful for their time at Instagram and Facebook and are excited about the future of both social networks.

"Our sense is the duo may have wanted to run Instagram more independently than their parent company wanted", said Scott Kessler, an analyst at the research firm CFRA.

So far this year, the company has said goodbye to WhatsApp CEO Jan Koum, Head of Communications and Public Policy Elliot Schrage, VP of Partnerships Dan Rose and Chief Security Officer Alex Stamos.

Earlier today The New York Times reported Systrom and Krieger's departure. This resulted in more pressure on Instagram.

Instagram has largely escaped Facebook's high-profile problems over user privacy, foreign elections interference and fake news, even though it is not immune to any of these things (Facebook recently disclosed it has deleted hundreds of pages on its namesake site as well as Instagram that were linked to global misinformation campaigns meant to disrupt elections).

The institutional investor, which holds more than 52,000 shares in Facebook, urged Facebook in July to appoint an independent board chair to oversee management.

Pakistan denounces attack on Iranian military parade
Initially, authorities described the assailants as " takfiri gunmen", a term previously used to describe the Islamic State group . Iran also warned the United Arab Emirates over "offensive remarks" attributed to a UAE "political adviser" following the attack.

Another source told TechCrunch Mosseri was disappointed he wasn't promoted to a high ranking post within the Facebook side of the business and his move to Instagram was "kind of a consolation prize".

"Instagram is one thousand percent better than what it started as because of the monetization skills brought by Facebook and the competition with Snapchat". People still loved it, to a degree that they haven't loved Facebook for years now, if they ever did.

So what will become of Instagram now?

It needs more advertisers to continue growing apace.

Instagram is a different matter. Despite the sale, they remained at the helm of the photo-sharing site. Facebook is the bedraggled one boarding last with so much baggage.

Instagram is growing faster than Facebook's core app. Bloomberg reports that the departure comes amid increasing friction between the pair and Facebook CEO Mark Zuckerberg. As people spend more time in Instagram, that's where companies want to be if they have shoes or movie tickets to sell.

Should Instagram experience such a slowdown, then WhatsApp is the next great hope for revenue growth. Instagram had been hailed in Silicon Valley as a flashy acquisition done right, with the team kept relatively small and Systrom having the freedom to add features such as peer-to-peer messaging, video uploads and advertising. Its rapid growth and user engagement caught the eye of Facebook, which was on the lookout for any services that might threaten its dominance of the social network space.

Instagram showed there was another way.

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