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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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Total News Sources79
Leaning Left10Leaning Right11Center10Last UpdatedBias Distribution36% Right
Bias Distribution
- 36% of the sources lean Right
36% Right
L 32%
C 32%
R 36%
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