technology
Meta replaces WhatsApp head Will Cathcart with Kunal Shah and invests $900 million in his startup Cred
Meta announced Monday that Will Cathcart is stepping down as head of WhatsApp after more than seven years. Kunal Shah, founder of Cred, will succeed him. Meta is investing $900 million in Cred as part of the transition.
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Meta is replacing Will Cathcart as head of WhatsApp with Kunal Shah, the founder of the credit card payments platform Cred. Cathcart led the messaging service for more than seven years and will move to another role at Meta focused on building new products from the ground up. Shah founded Cred in 2018.
Meta is investing $900 million in the startup, which is now valued at $4.5 billion post-money, as part of the leadership change. Meta acquired WhatsApp in 2014 for $19 billion. The service now has more than 3 billion monthly active users.
Last month Meta began rolling out subscription plans for WhatsApp, Facebook and Instagram while testing new subscriptions for its artificial intelligence services. Mark Zuckerberg said Shah's builder mentality and global perspective made him a good fit to lead WhatsApp. Cathcart wrote on X that WhatsApp is in the strongest position it has ever been and that the timing felt right to step back.
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LeftNeutralRightStrategic leadership refreshUnusual fintech tie-in
LeftNeutralRightStrategicUnusual
CorroborationModerate · 3 sources
