Meta has announced a major change in WhatsApp’s management, saying that WhatsApp head Will Cathcart will step down from his post after serving for more than seven years, and Indian national Kunal Shah was appointed as the new Chief of the management.
Kunal Shah, founder of Indian fintech company Creed, will replace Will Cathcart as the leader of WhatsApp. Meta’s CEO Mark Zuckerberg said that he looks forward to continuing to work with Will Cathcart in the future and that Will Cathcart will continue his services at Meta.
Meta bought WhatsApp for $19 billion in 2014. WhatsApp now has more than 3 billion monthly active users. Mark Zuckerberg said that Kunal Shah’s thinking, business experience, and global vision make him a good fit to lead WhatsApp.
Meta has also announced that it will invest $900 million in Kred, valuing Kred at $4.5 billion after the investment.
