Kunal Shah named WhatsApp global CEO to grow payments worldwide
Business
Big news: Kunal Shah, who started Cred, just became WhatsApp's global CEO. He's the first Indian entrepreneur in this top spot.
Shah will focus on growing WhatsApp's payments and commerce features worldwide.
Mark Zuckerberg called him a "builder mentality and global perspective," pretty high praise.
Meta buys 20% stake in Cred
Meta also grabbed a 20% stake in Cred, bumping its value to $4.5 billion, with a mix of cash and ad credits.
This fits Meta's trend of investing in startups and then giving their founders major roles, like Alexandr Wang from Scale AI, who left to lead Meta's "superintelligence" team after a similar deal.