Dilara Irem Sancar | Anadolu | Getty Images
Meta‘s longtime WhatsApp leader will step down and be replaced by the founder of Indian fintech startup Cred, the company announced Monday.
Will Cathcart, who has served as the head of the WhatsApp messaging service for more than seven years, is transitioning into another role at Meta, where he’ll “build new products from the ground up,” Meta CEO Mark Zuckerberg wrote in a Facebook post.
“I’m excited to continue to work together closely,” Zuckerberg said.
A Meta spokesperson declined to comment on the specifics of Cathcart’s new role.
Cathcart wrote in a post on X that WhatsApp “is in the strongest position it’s ever been — and that felt like the right moment to step back.”
Meta acquired WhatsApp in 2014 for $19 billion, and it’s grown into one of the most popular messaging services globally, counting more than 3 billion monthly active users.
Last month, Meta began rolling out subscription plans for WhatsApp, Facebook and Instagram, and said it would test new subscriptions for its artificial intelligence services. The moves could help Meta diversify its business beyond selling ads and recoup some of the costs from its heavy AI investments.
Cathcart will be succeeded by Kunal Shah, who founded Cred in 2018. Cred is a credit card payments platform that rewards users who pay their bills on a timely basis.
Shah’s “builder mentality and global perspective” made him a good fit to lead WhatsApp, Zuckerberg said.
As part of Shah’s appointment, Meta is investing $900 million in Cred, the startup said in a release. Cred is now valued at $4.5 billion post-money, according to the company.
