Meta names Indian entrepreneur Kunal Shah as WhatsApp CEO

Facebook parent Meta has appointed CRED founder Kunal Shah as the next chief executive of WhatsApp, marking one of the highest-profile leadership appointments for an Indian entrepreneur at a global technology platform. As part of the move, Meta will invest about $900 million in Cred at a valuation of $4.5 billion.

Shah will succeed Will Cathcart, who oversaw WhatsApp's growth into a platform with more than three billion users worldwide and expanded its business offerings beyond messaging, according to a company announcement.

Announcing the appointment, Meta founder and chief executive Mark Zuckerberg said Shah's experience in building CRED and his understanding of technology businesses would help shape WhatsApp's next phase of growth.

"Kunal built CRED into one of India's most important technology companies and brings the kind of builder mentality and global perspective that will serve him well in running the world's biggest messaging app," Zuckerberg said.

Chris Cox, chief product officer at Meta, described Shah as one of India's most respected entrepreneurs and said the company was fortunate to have him lead WhatsApp into its next phase.

In a statement, Shah said the messaging platform still had significant room for growth.

"While it's come very far, the delta between WhatsApp today and its full potential is massive. I look forward to working with Mark, Chris and the leadership across Meta for the next step in WhatsApp's journey," he said.

Cathcart, who announced his departure on Threads and X, said WhatsApp was in its strongest position ever and that it was the right time to step aside. Under his leadership, the platform scaled end-to-end encrypted messaging to more than three billion users globally, introduced Communities and Channels, and expanded into multiple billion-dollar businesses. He also led WhatsApp's efforts around privacy and its legal battle against spyware maker NSO Group.

Shah is the founder of fintech platform CRED, which has more than 17 million monthly active users. Before CRED, he founded digital payments company FreeCharge, which pioneered online payments in India and was later acquired by Snapdeal.

Apart from being an entrepreneur, Shah is an active angel investor with stakes in more than 250 startups and has served in advisory roles with Peak XV Partners, Bennett Coleman & Co. Ltd., and Pine Labs. He has also chaired the Internet and Mobile Association of India (IAMAI).