Meta replaces WhatsApp chief with Cred founder Kunal Shah
What's new: Meta is also investing $900 million in Cred, valuing the Indian fintech company at $4.5 billion post-money.
Meta has picked Cred founder Kunal Shah to run WhatsApp, replacing longtime leader Will Cathcart after more than seven years in the role. Cathcart is moving to another job inside Meta focused on building new products, according to Chief Executive Mark Zuckerberg. The leadership change comes as Meta pushes to make more money from WhatsApp's more than 3 billion monthly users through subscriptions, business tools and AI services. Meta also led a $900 million funding round in Cred, the consumer finance company Shah started in 2018, which the startup said values it at $4.5 billion after the deal. In India, WhatsApp's biggest market, Meta has been expanding business messaging and AI features as it looks for growth beyond advertising.