Kunal to head WhatsApp as Meta invests in Cred

The $900 mn deal values Cred at $4.5 bn, with Meta taking a 20% stake

- ASHUTOSH MISHRA

META PLATFORMS IS making one of its most significant bets on India yet, investing $900 million in fintech startup Cred while appointing its founder Kunal Shah as the next head of WhatsApp, a move that highlights the country’s growing importance to the social media giant's ambitions in payments, commerce and artificial intelligence.

The transaction gives Meta a roughly 20% stake in Bengaluru-based Cred and values the company at $4.5 billion. But the bigger development is Shah’s elevation to one of the most influential product leadership roles in global technology. The 47-year-old entrepreneur will replace Will Cathcart, who has led WhatsApp since 2019 and overseen its expansion into a platform used by over 3 billion people worldwide.

Announcing the appointment, Meta Founder and CEO Mark Zuckerberg said Shah's entrepreneurial background and global outlook made him a natural fit for the role. “Kunal built Cred into one of India’s most important technology companies, and he brings the kind of builder mentality and global perspective that will serve him well in running the world’s biggest messaging app,” Zuckerberg said.