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Meta Buys Stake in Cred, Appoints Founder to Lead WhatsApp
- On Monday, WhatsApp head Will Cathcart announced he is stepping down after seven years leading the messaging app, with Meta CEO Mark Zuckerberg naming CRED founder Kunal Shah as his successor.
- During his tenure, Cathcart scaled end-to-end encrypted messaging to more than 3 billion people and will move into a new role at Meta to "build new products from the ground up."
- Shah founded CRED in 2018, an Indian fintech company serving 17 million monthly members and processing more than 40% of India's credit card bill payments.
- Meta led a new investment round in CRED worth around $900 million, valuing the company at over $4 billion and giving Meta a minority stake.
- Expanding beyond advertising, Meta recently rolled out subscription plans across its apps; WhatsApp Plus costs $2.99 a month for extra features like custom themes and exclusive ringtones.
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Iraq news, the latest Iraq news by Iraqi News…Indian startup head appointed as new WhatsApp boss
Meta has tapped Indian fintech founder Kunal Shah as the new head of WhatsApp, as the US tech giant seeks ways to monetise the messaging app's massive user base.
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Coverage Details
Total News Sources85
Leaning Left10Leaning Right12Center10Last UpdatedBias Distribution38% Right
Bias Distribution
- 38% of the sources lean Right
38% Right
L 31%
C 31%
R 38%
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