Summary
Will Cathcart is stepping down as head of WhatsApp after nearly seven years. Kunal Shah, the founder of the Indian fintech start-up Cred, will take over leading the messaging app, which is used by over three billion people worldwide.
Key Facts
- Will Cathcart has led WhatsApp for almost seven years and helped it grow to more than three billion users.
- Cathcart announced his decision to step back while WhatsApp is in a strong position.
- Kunal Shah, founder of Cred, will become the new head of WhatsApp.
- Meta CEO Mark Zuckerberg praised Shah’s experience and global outlook.
- Cred is an Indian fintech company that rewards users who pay their credit cards on time.
- Meta invested $900 million in Cred, owning about 20% of the company.
- Meta has no access to Cred’s member data despite the investment.
- WhatsApp has about 853 million users in India and is part of Meta’s family of apps.
- WhatsApp is exploring new revenue ways like ads, paid subscriptions, and AI features.
- WhatsApp has faced privacy concerns and legal challenges in India related to data sharing.
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