Meta Platforms appoints Kunal Shah, founder of Indian fintech startup Cred (also known as CRED), as the new global head of WhatsApp. The change comes as Will Cathcart steps down from his role as WhatsApp head after about seven years. Meta CEO Mark Zuckerberg announces the leadership transition, with Cathcart moving to a new role at Meta focused on future products.
The appointment is linked to Meta’s investment in Cred. Multiple outlets report that Meta will invest $900 million in Cred and acquire a minority stake of about 20%, described in rupee terms as roughly Rs 8,550 crore. Bloomberg and other publications characterize the investment as minority ownership, while NDTV specifies the stake at approximately 20% under the agreement.
Business Line and other reports say Shah steps down as Cred CEO to lead WhatsApp and transitions to Meta’s global leadership team, while retaining his personal shareholding in Cred. Sources describe Shah as having scaled Cred to notable revenue and user growth prior to the move.
