Kunal Shah appointed CEO of WhatsApp as Meta invests $900 million in CRED

Meta announced that Will Cathcart will step down after nearly seven years leading WhatsApp. Founder of Indian fintech CRED, Kunal Shah, will take over as the global head of the messaging platform. Shah will join Meta’s leadership team while remaining a shareholder in CRED.

In a separate deal, Meta is investing about $900 million (≈ Rs 8,550 crore) in CRED, giving the company a roughly 20 % minority stake and valuing CRED at about $4.5 billion. The financing will be used to accelerate growth, strengthen institutional capabilities and prepare for a future IPO. Meta clarified it will not receive access to CRED’s customer data.

Mark Zuckerberg praised Shah, saying he “built CRED into one of India’s most important technology companies” and “brings the kind of builder mentality and global perspective that will serve him well in running the world’s biggest messaging app.” Cathcart noted that WhatsApp is “in the strongest position it’s ever been.” WhatsApp now serves over 3 billion users worldwide, with India accounting for more than 500 million of them, and is expanding its business‑messaging, payment and AI features.