Instagram’s co-founders Kevin Systrom and Mike Kreiger will be succeeded by Adam Mosseri, Instagram’s Vice President of Product and a long-time Facebook executive. Following the sudden exit of co-founders in September, Facebook on Monday appointed Adam Mosseri as the new head.
Mosseri started his career as a designer who worked at TokBox and founded a design consultancy in 2003 with offices in San Francisco and New York. The company was focused on interaction, graphic and exhibition design. He joined Facebook in 2008 as a product designer and moved to product management where he led the company’s News Feed division. According to a CNBC report, Mosseri’s will handle the new role immediately.
In a statement released on Monday, Systrom and Krieger said they are thrilled to hand over the reins to a product leader. They commented that Adam Mosseri’s strong design background and deep understanding of the importance of community will be an asset to the photo-sharing app’s business objectives.
The Instagram cofounders announced their resignation from Facebook, six years after the photo-sharing app was acquired by the social media giant Facebook. According to various reports, their departure came after growing tensions between the cofounders and Facebook CEO Mark Zuckerberg. However, both the parties didn’t provide a reason for the exit and had just kind words for each other.
In the new role, Adam Mosseri will oversee all business operations and recruit a new executive team including head of the product, head of engineering, and head of operations. In a statement, he said, “I am excited and humbled about the new opportunity to lead the Instagram team.”
According to several reports, Mosseri arrived at a crucial time for Instagram, which has become one of the fastest-growing businesses of Facebook over the last few years. Instagram is considered to be Facebook’s smartest acquisitions whose user growth has slowed down with scandals around user privacy and data breaches. The photo-sharing app now has 1 billion monthly active users and over 25 million business that maintain accounts on the service. According to Bloomberg Intelligence, the number is expected to be double by next five years and would be worth over $100 billion if it was a standalone company.