Meta Buys Stake in Cred, Appoints Founder to Lead WhatsApp
- On Monday, WhatsApp head Will Cathcart announced he is stepping down after seven years leading the messaging app, with Meta CEO Mark Zuckerberg naming CRED founder Kunal Shah as his successor.
- During his tenure, Cathcart scaled end-to-end encrypted messaging to more than 3 billion people and will move into a new role at Meta to "build new products from the ground up."
- Shah founded CRED in 2018, an Indian fintech company serving 17 million monthly members and processing more than 40% of India's credit card bill payments.
- Meta led a new investment round in CRED worth around $900 million, valuing the company at over $4 billion and giving Meta a minority stake.
- Expanding beyond advertising, Meta recently rolled out subscription plans across its apps; WhatsApp Plus costs $2.99 a month for extra features like custom themes and exclusive ringtones.
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116 Articles
After seven years, WhatsApp gets a new boss: Indian Kunal Shah takes the lead. At the same time, Meta invests 900 million dollars in its company.
Kunal Shah is supposed to help open up new sources of income for Whatsapp. His company is richly rewarded for this.
The 47-year-old Indian entrepreneur Kunal Shah was chosen on Monday 22 June to take over the reins of the famous 3 billion user courier.
Meta appoints CRED founder Kunal Shah to lead WhatsApp
Bangalore: Meta-owned WhatsApp will be led by Indian fintech entrepreneur Kunal Shah, founder of CRED, according to an announcement by current WhatsApp head Will Cathcart on Monday.Cathcart shared the development in a post on X, signalling a leadership transition at the popular messaging platform.The announcement follows news that CRED is set to raise approximately $900 million from Meta, marking a significant financial collaboration between the…
A great Indian tech entrepreneur, Kunal Shah, has been named new boss of Whatsapp, a great email application. The company is just trying to monetize its vast user base
Indian startup head Kunal Shah appointed as new WhatsApp boss
Meta has tapped Indian fintech founder Kunal Shah as the new head of WhatsApp, as the US tech giant seeks ways to monetise the messaging app’s massive user base. The announcement, made Monday night, was accompanied by news that Meta would also lead a $900 million funding round in Shah’s consumer finance firm CRED. “Kunal built CRED into one of India’s most important technology companies,” Meta chief Mark Zuckerberg said in a statement. “He bring…
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