WhatsApp to be led by Indian start-up founder as Will Cathcart steps back
WhatsApp boss Will Cathcart has announced that he is leaving his role.
Cathcart has overseen Meta's popular messaging platform for nearly seven years - and scaled its private chat functions to more than three billion users worldwide.
He said in posts on social media on Monday, external that while the platform was in "the strongest position it's ever been" it also "felt like the right moment to step back".
Cathcart will continue to play a role within Meta's leadership ranks, with Kunal Shah, founder of Indian fintech start-up Cred, taking over as head of WhatsApp.
Facebook founder and Meta chief executive Mark Zuckerberg said Shah had created "one of India's most important technology companies" with Cred.
He added that the fintech founder "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," Zuckerberg said.
Cred, based in Bengaluru, has sought to disrupt the payments sector in India with a "members-only" service that rewards high-earners for timely credit card payments.
Prior to founding Cred in 2018, Shah was an investor and advisor to a handful of different start-ups across India and south east Asia, according to his LinkedIn page.
He wrote on the platform, external on Monday that he would continue as a shareholder in the firm in taking on the new role at WhatsApp - adding that Cred had raised $900m (£679m) in investment from Meta.
According to Bloomberg, external, this would give the Meta a 20% stake in the company.
Shah noted that while Meta would join as a minority investor in Cred, it would have "no access to member data".
Read the full story at BBC ↗
Will Cathcart is leaving his position as WhatsApp CEO after nearly seven years, during which the messaging platform reached over 3 billion users. Kunal Shah, who founded the Indian fintech company Cred in 2018, will take over as head of WhatsApp. Shah will continue as a shareholder in Cred while in his new role. Meta has invested $900 million in Cred, giving it approximately a 20% stake, though Meta will not have access to user data. Cathcart will remain within Meta's leadership structure.
Read the full story at BBC ↗
WhatsApp boss Will Cathcart has announced that he is leaving his role.
Cathcart has overseen Meta's popular messaging platform for nearly seven years - and scaled its private chat functions to more than three billion users worldwide.
He said in posts on social media on Monday, external that while the platform was in "the strongest position it's ever been" it also "felt like the right moment to step back".
Cathcart will continue to play a role within Meta's leadership ranks, with Kunal Shah, founder of Indian fintech start-up Cred, taking over as head of WhatsApp.
Facebook founder and Meta chief executive Mark Zuckerberg said Shah had created "one of India's most important technology companies" with Cred.
He added that the fintech founder "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," Zuckerberg said.
Cred, based in Bengaluru, has sought to disrupt the payments sector in India with a "members-only" service that rewards high-earners for timely credit card payments.
Prior to founding Cred in 2018, Shah was an investor and advisor to a handful of different start-ups across India and south east Asia, according to his LinkedIn page.
He wrote on the platform, external on Monday that he would continue as a shareholder in the firm in taking on the new role at WhatsApp - adding that Cred had raised $900m (£679m) in investment from Meta.
According to Bloomberg, external, this would give the Meta a 20% stake in the company.
Shah noted that while Meta would join as a minority investor in Cred, it would have "no access to member data".
Read the full story at BBC ↗
Will Cathcart has led WhatsApp for nearly seven years WhatsApp has scaled to more than three billion users under Cathcart's leadership Cathcart said the platform is in 'the strongest position it's ever been' Kunal Shah founded Cred, an Indian fintech startup, in 2018 Shah will become head of WhatsApp while remaining a shareholder in Cred Meta has invested $900 million in Cred for an estimated 20% stake Shah brings 'the kind of builder mentality and global perspective' needed to run WhatsApp
Read the full story at BBC ↗
- Will Cathcart is stepping down as WhatsApp CEO after leading the platform for seven years and growing it to over 3 billion users
- Kunal Shah, founder of Indian fintech startup Cred, will replace him as WhatsApp head
- Shah will remain a shareholder at Cred while taking the new role; Meta has invested $900m in Cred for an estimated 20% stake