Kunal Shah, founder of Cred, is set to become WhatsApp's chief executive after Will Cathcart resigned from his position.
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WhatsApp, the messaging app with more than 3 billion active users worldwide, is set to undergo a leadership change. Kunal Shah, founder of Indian financial technology (fintech) company Cred, will become the global head of WhatsApp.
WhatsApp's current head Will Cathcart has announced his resignation. Cathcart had led WhatsApp for the past seven years. He will now take charge of developing new products within the company. Meta's head Mark Zuckerberg also wrote on Facebook and X on Monday about the CEO change.
Zuckerberg praised Kunal Shah. With the leadership change, Meta will invest $ 900 million in Shah's company Cred. WhatsApp has been trying to strengthen its presence in India in recent times. Kunal is set to move from Bengaluru to California this week.
Shah will continue as a shareholder of Cred even as he takes over WhatsApp. Cathcart has said that WhatsApp is in a very strong position and it is the right time to step down.
Meta bought WhatsApp for $19 billion in 2014. It was founded by Jan Koum and Bryce Acton in 2009. Meta launched subscription plans for WhatsApp, Facebook and Instagram last month. The company has now said it will also test free services for features including AI.
