India, June 22 -- Meta Platforms (META) has named Kunal Shah, the Indian entrepreneur, as the new head of WhatsApp, taking over from Will Cathcart, who is stepping down after nearly seven years to focus on product development within the company.
This leadership transition comes with a $900 million funding round led by Meta in the Indian fintech company CRED. This investment, which includes both new and existing share purchases, gives Meta a minority ownership stake in CRED, which is now valued at around $4.5 billion. Although Shah will resign as CRED's CEO, he'll keep his personal shares in the company.
Meta's move underscores how crucial India is for WhatsApp's growth. It's the platform's largest market, boasting over 500 million users, ...