Kunal Shah Takes the Helm at WhatsApp: A New Era for Meta

Meta's Strategic Move with Kunal Shah

New Delhi: On Monday, Mark Zuckerberg, the CEO of Meta, announced that Kunal Shah, the founder of CRED, will step into the role of global CEO for WhatsApp. This transition comes alongside Meta's significant investment of approximately $900 million (around ₹8,550 crore) in the fintech firm CRED.

As part of this deal, Kunal Shah will assume leadership of WhatsApp globally. He expressed his commitment to the CRED team, stating, "I expect you all to continue being a 10x version of yourselves. I will be joining Meta to lead WhatsApp on a global scale. Meta will be a minority investor in CRED, ensuring no access to member data."

Shah expressed enthusiasm about collaborating with Zuckerberg, Chris, and the Meta leadership team to advance WhatsApp's journey. He also acknowledged Will Cathcart, the outgoing head of WhatsApp, for his contributions over the past seven years.

Miten Sampat will take over as interim CEO of CRED, as announced by Shah on X.

Zuckerberg praised Shah's accomplishments, stating, "Kunal has transformed CRED into one of India's leading tech companies, and his builder mentality and global outlook will be invaluable in managing the largest messaging platform in the world."

Shah will succeed Will Cathcart, who has played a pivotal role in expanding WhatsApp's user base to over 3 billion and advocating for user privacy. Cathcart will transition to a new position within Meta, focusing on developing new products.

Reflecting on his journey with CRED, Shah noted, "I founded CRED in 2018 with the belief that creditworthiness should be rewarded. In less than eight years, this vision has evolved into a new category, generating ₹3,200 crore ($325 million) in revenue and establishing a strong brand. With new capital and a talented team, CRED is set to become a lasting institution for years to come. I step back with gratitude, confident that the team will continue to excel."