×
You will be redirected back to your article in seconds

What’s Next for Instagram? Facebook Eyes Product Exec Adam Mosseri as Likely Instagram CEO (Report)

Facebook will likely appoint Adam Mosseri, currently Instagram’s head of product, as the new chief executive of Instagram with the departure of the photo- and video-sharing service’s co-founders, according to a report.

Tech-new site The Information reported that Facebook will likely announce Mosseri as the new head of Instagram “in the coming days,” citing anonymous sources. According to the report, it’s unlikely that another candidate for the job will emerge.

In a surprise to Facebook execs and Instagram employees, CEO Kevin Systrom and CTO Mike Krieger — who founded Instagram eight years ago — announced Monday that they will be leaving the company. Systrom’s public farewell blog post hinted that the duo will be going on to start something else: “We’re now ready for our next chapter,” the exec wrote.

A Facebook rep declined to comment.

Mosseri — a 10-year veteran of Facebook — in May 2018 was named head of product at Instagram. He previously oversaw Facebook’s News Feed and Interfaces product management teams.

Regardless of who Facebook installs to take over Instagram, it’s a sure bet that the platform’s fundamental business strategy won’t change — which is to continue to develop Instagram as the sector’s most engaging platform for brand marketers, said Yuval Ben-Itzhak, CEO of Socialbakers.

Instagram this summer topped 1 billion monthly active users and has 25 million businesses that maintain accounts on the service. The unexpected departure of Instagram’s creators immediately set off a guessing game about who would take over.

But “no matter who takes the reins, marketers will continue to spend on the platform because there is no comparable alternative offer the same engagement and reach,” Ben-Itzhak said.

The exit of Systrom and Krieger, who have led the rapid growth of Instagram under Facebook’s ownership, is a “notable negative” for Facebook, CFRA Research analyst Scott Kessler wrote in a research note Tuesday. “These departures come at a critical time for [Facebook], as it faces multiple significant legal and regulatory issues around the world, and is trying to support growth and margins while investing substantially.”

As for the reason for their exit, the pair “may have wanted to run Instagram more independently than their parent company wanted,” Kessler wrote. Systrom has recently balked at changes to Instagram imposed by Facebook chief Mark Zuckerberg, according to multiple reports.

More Digital

  • Netflix-logo-N-icon

    Netflix Raises $2.2 Billion Through Junk-Bond Offering

    Netflix just went deeper into hock: The company announced the pricing of unsecured bonds in a transaction raising around $2.2 billion, giving it more cash to invest in content, real estate and infrastructure. The streamer had said Tuesday that it planned to raise $2 billion through a new debt offering, bringing its long-term debt to [...]

  • Facebook Logo

    Facebook Anticipates It Will Have to Pay FTC Up to $5 Billion for Privacy Violations

    Facebook executives expect that the company will have to pay as much as $5 billion as a result of an ongoing FTC investigation into its privacy practices, they revealed in Facebook’s Q1 2019 earnings release Wednesday. As a result of these anticipated charges, Facebook set aside $3 billion in the quarter, which significantly impacted its [...]

  • Avengers: Endgame

    'Avengers: Endgame' Full Movie Hits Piracy Networks (Report)

    Disney/Marvel’s “Avengers: Endgame,” poised to be the hugest movie opening in history, has hit piracy networks — two days before its U.S. premiere — with a copy evidently recorded in a Chinese movie theater now circulating online, according to a published report. Users in China began sharing a 1.2-gigabyte file of “Avengers: Endgame” on peer-to-peer [...]

  • Childish Gambino 'Pharos" AR App Launches

    Childish Gambino Releases 'Pharos' AR App for Android Phones

    Childish Gambino is taking his “Pharos” multimedia franchise to a new platform: Donald Glover’s alter ego released a “Pharos” augmented reality (AR) app for Android phones Wednesday morning, with an iOS version forthcoming at a later time. The app allows users to open up an AR portal in their living room (or where ever else [...]

  • How Baobab Studios Made 'Bonfire,' Its

    Baobab’s New VR Film ‘Bonfire’ Puts the Viewer at the Center of the Story

    Baobab Studios, the VR studio known for Pixar-quality animated virtual reality short films like “Invasion!” and “Crow: The Legend,” is back at Tribeca Film Festival this week with a new VR short that puts you at the center of the story — and lets you experience bonding around a campfire a million miles from home. [...]

  • NFL-Sunday-Ticket-DIRECTV

    AT&T CEO Expects DirecTV to Keep NFL Sunday Ticket Exclusively

    AT&T believes it will hang on to DirecTV’s exclusive rights for the NFL Sunday Ticket, even as the league has said it’s considering ending the satellite operator’s exclusivity to extend the out-of-home games package to streaming platforms. “The exclusivity [of Sunday Ticket] should remain as we go forward on DirecTV,” AT&T CEO and chairman Randall [...]

More From Our Brands

Access exclusive content