Meta CEO Mark Zuckerberg revealed that Kunal Shah, the founder of CRED, will be taking on the role of global CEO for WhatsApp. This decision comes alongside Meta’s investment of approximately $900 million in CRED. Shah expressed his commitment to enhancing CRED’s performance and emphasized that Meta’s investment does not grant access to member data.
Shah expressed his excitement about collaborating with Mark Zuckerberg and Meta’s leadership to steer WhatsApp’s future direction. He praised the outgoing WhatsApp head, Will Cathcart, for his contributions and smooth transition. Meanwhile, Miten Sampat will serve as the interim CEO of CRED.
Zuckerberg commended Shah’s leadership qualities and global vision, highlighting his role in elevating CRED to a significant tech entity in India. He expressed eagerness to work with Shah to further enhance WhatsApp’s services for billions of users and businesses. Shah will succeed Will Cathcart, who led WhatsApp for seven years.
In a reflective post, Shah acknowledged CRED’s growth since its inception in 2018, emphasizing its revenue, profitability, licenses, and strong brand. He expressed confidence in CRED’s future trajectory, underlining the team’s capabilities to sustain and elevate the company’s standing. Shah’s departure marks a new chapter for CRED’s evolution and growth.
