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Meta is replacing Will Cathcart with Kunal Shah, founder of Indian fintech firm CRED, as head of WhatsApp. The change coincides with a $900 million Meta investment in CRED. Cathcart led the messaging service for more than seven years.
thehindubusinessline.comWill Cathcart will step down as head of WhatsApp and be replaced by Kunal Shah, the founder of Indian fintech company CRED. Meta is investing $900 million in CRED as part of the leadership transition. CRED is now valued at $4.5 billion post-money, according to CNBC.
Cathcart led WhatsApp for more than seven years and will move to another role at Meta focused on building new products from the ground up, CNBC reported. Shah is stepping down as CEO of CRED to take the WhatsApp position. Meta acquired WhatsApp in 2014 for $19 billion.
The service now has more than 3 billion monthly active users, CNBC reported. Last month Meta began rolling out subscription plans for WhatsApp, Facebook and Instagram. 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.
YonhapSK Hynix reached a market capitalization of 2,080.37 trillion won on Monday, edging past Samsung Electronics at 2,066.66 trillion won. The shift ended Samsung’s 27-year lead on the Korea Composite Stock Price Index.
The VergeValve will begin shipping its Steam Machine on June 29 at a base price of $1,049 without a gamepad. The compact Linux device supports modern gamepads and multiple peripherals while delivering 1080p performance upscaled to 4K in tested titles.
Meta halted its Model Capability Initiative after internal data including keystrokes and conversations became accessible company-wide. The company classified the incident as SEV 2 and said it is investigating while maintaining no evidence of improper access by staff.