Will Cathcart, who led WhatsApp for the previous seven years, is stepping down from his role as Meta appoints a brand new chief. On Monday, Meta CEO Mark Zuckerberg announced on Facebook that Kunal Shah, the founding father of an Indian fintech startup referred to as Cred, is taking up as the top of WhatsApp.
Cred is an app that permits individuals to handle their payments and obtain rewards for making funds by the platform. As a part of Shah’s appointment, Meta is investing $900 million into Cred, giving it a 20 p.c stake within the startup, Bloomberg reports.
In the meantime, Shah will step down from his function because the CEO of Cred to guide WhatsApp. “Kunal constructed CRED into one among India’s most essential expertise firms, and he brings the sort of builder mentality and international perspective that may serve him nicely in working the world’s greatest messaging app,” Zuckerberg writes.
