Will Cathcart is departing from his position as the head of WhatsApp, concluding a seven-year tenure that saw the platform expand to a global user base of over three billion people. He shared the news on social media this Monday, stating that the service is currently at its strongest point and that the timing for his transition felt appropriate. While he is leaving the top job, Cathcart intends to continue his work within Meta.
Meta has chosen Kunal Shah, the founder of the Indian fintech firm Cred, to take over the role. CEO Mark Zuckerberg expressed confidence in the appointment, highlighting Shah’s experience in building a significant technology company. Zuckerberg noted that Shah’s perspective and ambition are well-suited for managing the world’s most popular messaging application.
Cred, which operates out of Bengaluru, is known for its exclusive model that incentivizes users for paying credit card bills on time. Before establishing the company in 2018, Shah served as an adviser and investor for various start-ups. Shah confirmed he will keep his equity in Cred while transitioning to Meta. Additionally, he noted that Meta has provided a $900 million investment, granting them a 20% stake in the fintech startup. Shah assured stakeholders that this financial arrangement does not grant Meta access to any member data at Cred.
