MAM
Instagram co-founders resign from Facebook
MUMBAI: There’s trouble brewing at the Facebook group. Mike Krieger and Kevin Systrom, the co-founders of the photo-sharing app Instagram which was acquired by the social media site in 2012, have decided to leave the company. The duo have put down their papers and will leave the company in a few weeks, adding to the challenges facing Instagram’s parent company, Facebook.
In a statement issued by Krieger, he informed Instagram’s team about their decision to leave the company. While he did not give a reason for stepping down, he said: “We’re planning on taking some time off to explore our curiosity and creativity again. Building new things requires that we step back, understand what inspires us and match that with what the world needs; that’s what we plan to do.”
Their departure adds to questions about Instagram’s future as concerns about Facebook’s approach to user data and foreign interference begin to take a toll on business.
The resignation of Instagram founders is an echo of the exit of Whatsapp founder Jan Koum who resigned from the company in April after his rising concern about Facebook’s approach to user data.
Facebook acquired Instagram in April 2012 for $1 billion and WhatsApp in 2014 for a steep $19 billion.
MUMBAI: In India’s fast-moving payments race, Visa has just swiped in a new leader. The company has named Suresh Sethi as its India country head, marking a key leadership shift as it sharpens its focus on digital payments growth in the market. Sethi steps into the role following his recent exit from Protean eGov Technologies, where he served as chief executive officer. He succeeds Sandeep Ghosh, who has moved on after more than four years at Visa to pursue an external opportunity.
The appointment comes at a time when Visa is doubling down on its expansion strategy across India and the wider region, deepening partnerships and accelerating adoption in an increasingly competitive digital payments ecosystem.
Sethi brings with him a broad, cross-market perspective shaped by decades of experience across corporate banking, retail financial services, mobile money and large-scale government technology initiatives. He began his career at Citigroup, where he spent 14 years working across India, Africa, South America and the United States, focusing on transaction banking services within the corporate bank.
His appointment signals a blend of institutional experience and market familiarity qualities that could prove critical as Visa navigates a landscape where fintech innovation, regulatory evolution and consumer adoption are all accelerating at once.
As digital payments in India continue to scale rapidly, the leadership change underscores a simple reality, in a market where every tap, scan and swipe counts, who leads the charge can matter just as much as the technology itself.
