Instagram co-founders Kevin Systrom and Mike Krieger have resigned from their roles as CEO and CTO at the photo-sharing app, according to The New York Times.
But the entrepreneurial pair have hinted they will start something new, according to the article, saying they were ready for their “next chapter” – with tech-minded folk the world over abuzz with wonder as to what that next chapter might be.
It’s anyone’s guess, but chances are, it’ll be worth billions.
With rumours flying Systrom and Krieger’s departure is due to challenges with Instagram’s parent company, Facebook, and their well-known expertise in building addictive software, who knows if their future projects will be in direct competition with the social media platform that rules our lives.
We can only hope.
Facebook bought out Instagram for US$1 billion back in 2012 and there are now more than a billion users on the platform.
Facebook is traded on the NASDAQ and logged revenue of $40.63 billion in 2017.
We’re living in one of the most exciting times in investing history. Innovation and a booming culture of entrepreneurship are constantly creating new companies with the potential to make forward-thinking investors very rich. Now more than ever, one small, smart investment could make a huge difference to your wealth.
That’s why at The Motley Fool we’ve been scrutinizing the ASX to uncover the kinds of companies that we believe could turn into the next Atlassian.
We’ve found three exciting companies that we believe re poised to perform in the new year. Click here to uncover these ideas!
Carin Pickworth has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of and recommends Facebook. The Motley Fool Australia has recommended Facebook. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.