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MetaThe longtime WhatsApp leader will step down and be replaced by the founder of Indian fintech startup Cred, the company announced on Monday.
After more than seven years as head of the WhatsApp messaging service, Will Cathcart will transition to another role at Meta, where he will “build new products from the ground up,” Meta CEO Mark Zuckerberg wrote in a Facebook post.
“I’m excited to continue working closely together,” Zuckerberg said.
A Mehta spokesperson declined to comment on the details of Cathcart’s new role.
In a post on X, Cathcart wrote that WhatsApp was in its “strongest position ever and felt it was the right time to exit.”
Meta acquired WhatsApp for $19 billion in 2014 and has grown to become one of the world’s most popular messaging services with more than 3 billion monthly active users.
Meta announced last month that it would begin rolling out subscription plans for WhatsApp, Facebook and Instagram, and test new subscriptions for artificial intelligence services. The move could help Meta diversify beyond ad sales and recoup some costs from its large AI investments.
Cathcart will be succeeded by Kunal Shah, who founded Cred in 2018. Cred is a credit card payment platform that rewards users who pay their bills in a timely manner.
Zuckerberg said Shah’s “builder spirit and global perspective” make him the right person to lead WhatsApp.
As part of Shah’s appointment, Meta will invest $900 million in Cred, the company said in a release. The company says Cred is now worth $4.5 billion post-money.
