Meta shakes the lead on the popular messaging platform WhatsApp.
Will Cathcart, the longtime head of WhatsApp, announced Monday that he is stepping down after seven years at the helm of the encrypted messaging service. He will be replaced by Kunal Shah, founder and CEO of CRED, an Indian fintech startup known for rewarding users who pay their credit card bills on time.
“WhatsApp is in the strongest position it’s ever been, and this felt like the right time to step back,” Cathcart wrote. post Monday at X. “We’ve extended end-to-end encrypted messaging to more than three billion people. We’ve brought it to group chats, to assistive devices, to new surfaces — and we’ve defended people’s right to private conversations around the world.”
Cathcart will no longer refer to WhatsApp, but it won’t be leaving Meta entirely. Instead, he is moving to a new role at the company where he will “build new products from the ground up,” Meta CEO Mark Zuckerberg wrote in a post. Facebook post on monday.
The leadership change is happening as is Meta spend a lot of money about the infrastructure needed to develop and run advanced AI models. The company raised its 2026 capex forecast to $125 billion to $145 billion, up from $135 billion previously.
At the same time, Meta is looking for new ways to make money outside of its core advertising business. This year, the company began rolling out paid subscription plans across its apps, including Facebook, Instagram and WhatsApp. Meta product head Naomi Gleit said on Instagram post at that time, Meta AI, online creators and more plans were ready for business.
WhatsApp Plusfor example, it costs $2.99 per month and gives users access to additional features such as custom app themes and icons, stickers with special effects, exclusive ringtones, additional closed chats, and options to customize chat lists.
Shah will now take over WhatsApp as CEO in this new phase for the company. Founded in 2018, CRED is a fintech company offering products in payments, lending, insurance, wealth management and lifestyle services in India. The company says it has 17 million monthly members and processes more than 40% of India’s credit card payments.
“Kunal built CRED into one of India’s most important technology companies, and he brings a founding mindset and global perspective that will serve him well in leading the world’s largest messaging app,” Zuckerberg wrote in his post.
The move also comes with a big investment. a press releaseCRED announced that it has raised approximately $900 million in a new Series H led by Meta. The deal values CRED at more than $4 billion and gives Meta a minority stake in the company. CRED said Meta will not have access to customer data as part of the investment.
