New Delhi, June 27 -- Dear reader,

Meta has handed the reins of WhatsApp to Cred founder Kunal Shah, signalling just how important India has become to the messaging giant's future. Shah will lead WhatsApp globally while continuing to operate largely from Bengaluru, with a mandate to make the app more useful and, crucially, more profitable.

The appointment comes alongside Meta's $900 million investment in Cred, valuing the fintech at $4.5 billion. The deal gives Meta a strategic foothold in India's digital payments ecosystem and a chance to test new commerce and financial products in the world's biggest WhatsApp market. Cred's expertise in payments, lending and consumer engagement could become a blueprint for WhatsApp's next phase.

The ...