Fintech Founder Kunal Shah Now Leads WhatsApp
Will Cathcart has stepped down as head of WhatsApp. He led the app for seven years.
Kunal Shah has replaced him. Shah is an Indian fintech founder and entrepreneur.
He started CRED in 2018 as a credit card rewards platform. Meta is reportedly investing $900 million in CRED.
That would value the startup at $4.5 billion. Cathcart will move into a new role at Meta.
Meta owns WhatsApp. His new role will involve building new products. The change is part of Meta's push to grow WhatsApp in India.
Klear Note — WhatsApp is a messaging app used by 2 billion people worldwide. Meta bought it in 2014. India is WhatsApp's largest market with hundreds of millions of users.
Key Terms 4
- Fintech Financial technology — companies using software to offer money services
- CRED Indian app founded by Shah for credit card bill payments and rewards
- Meta US tech company that owns WhatsApp, Facebook and Instagram
- Startup A new company still growing and seeking investment