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Will Cathcart, who led WhatsApp for the past seven years, he is stepping down from his position as Meta chooses a new leader. On Monday, Meta CEO Mark Zuckerberg was announced on Facebook that Kunal Shah, the founder of an Indian fintech startup called Cred, is taking over as head of WhatsApp.
Cred is an app that allows people to manage their bills and earn rewards for paying through the platform. As part of Shah’s appointment, Meta is investing $900 million in Cred, giving them a 20 percent stake in the startup, Bloomberg reports.
Meanwhile, Shah will step down from his role as CEO of Cred to lead WhatsApp. “Kunal has built CRED into one of India’s most important technology companies, and he brings an architectural mindset and global perspective that will help him run the world’s largest messaging app,” wrote Zuckerberg.
