Meta hands WhatsApp keys to India’s Kunal Shah and pumps $900 million into his fintech CRED
WhatsApp is getting a new boss from an unexpected place. Meta just named Kunal Shah, the founder of Indian fintech giant CRED, to take over as the messaging app’s next leader. The surprise move comes as Shah steps down as CRED’s CEO, though he’ll keep his stake in the company. Meta is also investing $900 million into CRED, making it a minority owner in the startup now valued at $4.5 billion. The change at the top of WhatsApp marks the end of an era. Will Cathcart, who led the app since 2019, is moving to a new product role at Meta after nearly seven years. Under his watch, WhatsApp grew to over three billion users worldwide and rolled out features like Communities, Channels, and AI tools. But its push into digital payments, especially in India, has struggled to match local rivals like PhonePe and Google Pay. India is why this hire makes sense. It’s WhatsApp’s biggest market with over 500 million users, and Meta sees it as the key to unlocking growth in business messaging a...