Meta has appointed Kunal Shah as the new chief of WhatsApp, succeeding Will Cathcart who is stepping down after seven years. The move comes alongside a $900 million investment in Indian fintech giant CRED, with Shah taking on a more advisory role while retaining his shareholding.
India remains WhatsApp’s largest market, home to over 500 million users and a key battleground for Meta's ambitions in business messaging and digital payments. Cathcart’s tenure saw the introduction of new products like Communities and Channels, as well as AI integrations, boosting user numbers significantly.
While WhatsApp Pay has gained traction, it still lags behind local competitors such as PhonePe and Google Pay, leaving scope for growth in a market that is crucial to Meta's future. Meta hopes Shah’s experience building consumer internet companies can drive this forward.
In parallel, CRED is valued at around $4.5 billion post-investment, making Meta a minority shareholder. Miten Sampat will take over as interim CEO pending a longer-term management structure for the company.
