Meta Names Kunal Shah WhatsApp Head, Taking 20% Cred Stake for $900 Million
Updated
Updated · The Verge · Jun 22
Meta Names Kunal Shah WhatsApp Head, Taking 20% Cred Stake for $900 Million
3 articles · Updated · The Verge · Jun 22
Summary
$900 million from Meta will accompany Kunal Shah’s move from Cred to WhatsApp, where he replaces Will Cathcart after seven years leading the messaging app.
20% is the stake Meta is taking in Cred, the Indian fintech Shah founded, linking the leadership change to a sizable investment in the startup.
Cathcart, who became WhatsApp chief in 2019, will stay at Meta in a new role after overseeing encrypted backups, iPad expansion, ads and private chats with Meta’s AI chatbot.
Zuckerberg cast Shah’s appointment as a bet on a builder with global perspective to run the world’s biggest messaging app, while Cred loses its CEO as Meta deepens ties to India’s tech sector.