Facebook appoints Adam Mosseri as new head of Instagram

  • Facebook appoints Adam Mosseri as new head of Instagram

Facebook appoints Adam Mosseri as new head of Instagram

His appointment as Instagram's head of product this May was seen by some as an indication of Mr Zuckerberg's increasing influence over the photo-sharing app he bought.

Mosseri takes the helm of Instagram a week following Systrom's and Krieger's resignations.

Facebook acquired Instagram for $1 billion in 2012, and has built it into an alternative to Snapchat, the popular messaging app from Snap (SNAP), with 1 billion monthly active users.

Some users have anxious since last week's surprise departures that Instagram will become more like its parent company, becoming cluttered with features and sucking up personal data.

Instagram isn't the only Facebook acquisition that's had issues lately.

There could be many reasons why Systrom and Krieger quit the company that they co-founded.

Instagram's co-founders are getting replaced by this guy.

"I find attacking the people and company that made you a billionaire, and went to an unprecedented extent to shield and accommodate you for years, low-class", wrote Marcus. Nonetheless, the founders of Facebook's top three acquisitions have all now left the company. He succeeds Kevin Systrom and Mike Krieger, who abruptly announced their departure on September 24th.

Co-founders Kevin Systrom and Mike Krieger resigned as chief executive officer and chief technical officer of Instagram last week giving scant explanation for the move.

"We are thrilled to hand over the reins to a product leader with a strong design background and a focus on craft and simplicity - as well as a deep understanding of the importance of community", Systrom and Krieger said in a press release. He was recruited to the Instagram team recently. "We believe that Adam will hold true to these values and that Instagram will continue to thrive", they added. Although Facebook doesn't break out Instagram's revenue, it has been estimated that the division will generate about $8 billion in revenue in 2018, according to EMarketer data.