Kunal Shah, the founder of CRED, is set to take charge of WhatsApp globally, which would be one of the most high-profile leadership moves involving an Indian entrepreneur in the technology industry. Meta has announced that Shah will become the next Head of WhatsApp, succeeding Will Cathcart, who has led the messaging platform since 2019. The appointment comes at a time when WhatsApp has become much more than a messaging app. With over three billion users worldwide and growing businesses around payments, business messaging and AI-powered features, the platform is entering a new phase of expansion. Meta believes Shah's experience as a founder and product builder makes him the right person to lead that journey.
According to Meta, Shah brings a strong understanding of how people use WhatsApp in their daily lives, along with a fresh perspective from outside the company. India, WhatsApp's largest market, has also become one of the app's most important regions for business messaging and payments, two areas that are expected to play a major role in its future growth. Announcing the appointment, Meta CEO Mark Zuckerberg praised Shah's track record as an entrepreneur.
"Kunal Shah will join Meta as WhatsApp's next leader. Kunal built CRED into one of India's most important technology companies, and he brings the kind of builder mentality and global perspective that will serve him well in running the world's biggest messaging app. I look forward to working with Kunal to continue to make WhatsApp the best service for billions of people and millions of businesses."
Meta Chief Product Officer Chris Cox said Shah was selected because of his understanding of products and his long-standing views on how WhatsApp can become more useful for people around the world.
"I'm excited to welcome Kunal Shah as WhatsApp's next leader. He is one of India's most respected entrepreneurs and a prolific voice for how the apps we build make a positive difference in people's lives. We are fortunate to have him guide WhatsApp through this next era," Cox said.
Shah's move to Meta comes after nearly a decade of building CRED into one of India's best-known fintech companies. In a post announcing his transition, he talked about the company's journey since its launch in 2018.
Starting with $1 million of his own capital, Shah built CRED with the idea of rewarding users for paying credit card bills on time. Over the years, the platform grew to more than 17 million members and expanded into payments, lending, insurance, commerce, wealth management and credit cards.
Shah said CRED recently reported its first profitable quarter and had grown from zero revenue to roughly $325 million, or around Rs 3,200 crore, in annual revenue. The company also raised more than $900 million from investors like Meta and completed multiple ESOP buybacks.
As part of the transition, Shah will step away from his operating role at CRED. Miten, who has been leading strategy and finance at the company, will take over as interim CEO. Shah will continue to remain a shareholder.
Addressing concerns around data, Shah clarified that Meta's investment in CRED would be as a minority investor and that there would be "No access to member data."
"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," Shah said.
He also thanked outgoing WhatsApp chief Will Cathcart for helping make the transition smooth. Cathcart leaves after overseeing one of the most important periods in WhatsApp's history. Under his leadership, the platform expanded encrypted messaging to more than three billion users, introduced Communities and Channels, launched new AI-powered privacy features, and strengthened its stance on user privacy globally.
Source: India Today
