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Shares of Facebook Inc. (FB) posted a sharp drop in pre-market deals on Tuesday after the social media group confirmed the co-founders' departure from its popular Instagram app, a major step – growth courier companies.
The CEO of Instagram, Kevin Systrom, and the technical director, Mike Krieger, who created and launched the photo sharing app eight years ago, announced Monday that they were leaving Facebook, buying Instagram for $ 1 billion in 2012. creativity again. Systrom wrote in a blog post that "creating new things requires us to step back, understand what inspires us and what the world needs, and that's what we expect. Several media reports have, however, put an end to the growing tension between the couple and CEO Mark Zuckerberg, who is increasingly relying on Instagram to generate group profits.
"Kevin and Mike are extraordinary product leaders and Instagram reflects their combined creative talents," Zuckerberg said in a statement. "I have learned a lot from working with them for six years and I really enjoyed it, I wish them the best and I can not wait to see what they will build."
More than 8 years ago, Kevin and I started Instagram, hoping to create something that would bring out the creativity and the spirit of people for exploration. Now it's time to move on to the next chapter. Many thanks to all members of the community we met along the way. https://t.co/9Omyj6VHbe
– Mike Krieger (@mikeyk) September 25, 2018
Action Alerts Plus holding Facebook shares was marked Tuesday by a 1.95% drop in pre-market transactions, indicating an opening price of $ 162.18 each, extending the decline since the beginning of the year. 8% year and valuing the Palo Alto. group at just under $ 470 billion.
Zuckerberg himself touted the value of Instagram and WhatsApp for the net results and growth prospects of the group, claiming that at least 2.5 billion people use at least one of its four platforms. forms of messaging each month. ".
"It's time to think about how this acquisition was an incredible success." When Instagram joined us, the team had only 16. Since then, Kevin and the team have created Stories, Direct, and now IGTV.The history of great innovation and product performance.And it is also a history of the effectiveness of integration, Zuckerberg told investors during a conference call.
"We think that Instagram could have used Facebook's infrastructure more than twice as fast as it would do it of itself. So, congratulations to the Instagram team. and to all the teams in our society who contributed to this success, "he added.
Mobile advertising revenues, which account for more than 90 percent of Facebook's overall sales, increased by 50 percent in the second quarter (year-over-year) to $ 11.9 billion, primarily as a result of Instagram and Facebook. Wehner.
The release of Systrom and Krieger is the second big departure for Facebook for the last six months and follows the resignation of WhatsApp co-founder and CEO, Jan Koum, who announced his decision to leave his post in November. April. Acton faced Zuckerberg because of Facebook's desire to use the personal data of WhatsApp's 1.5 million daily active users to form targeted ads that would increase the group's revenue.
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