Meta-owned WhatsApp will now be headed by CRED founder Kunal Shah, with the transition set to begin as early as this week, the messaging platform said. The move marks the elevation of the serial fintech entrepreneur to the leadership of the world’s largest messaging service.

WhatsApp’s parent Meta, which also owns Instagram and Facebook, will invest $900 million, or around ₹8,550 crore, in Cred as part of the arrangement. The funding will enable CRED to undertake ESOP buybacks.

The investment gives Meta an estimated 20% stake in CRED, which runs an app that rewards users for timely payment of credit card bills. Following the deal, the company is valued at $4.5 billion on a post-money basis, according to a press release.

Kunal Shah to replace Will Cathcart

While, Mr. Shah will replace Will Cathcart as the CEO, the latter will remain at Meta and move to a new role focused on building consumer applications and products using artificial intelligence tools.

In a post on X, Mr. Cathcart said WhatsApp is in the strongest position it has ever been. “That felt like the right moment to step back. I am very excited to see what Kunal and our amazing team continue to build,” he said.

“After nearly seven years leading WhatsApp, I am excited to share who will take over the responsibility of delivering simple, reliable, and private messaging for the world. WhatsApp is in the strongest position it has ever been, and that felt like the right moment to step back. I am very proud of what we have built. We scaled end-to-end encrypted messaging to more than three billion people and brought it to group chats, companion devices, and new surfaces, while defending people’s right to private conversations across the globe,” Mr. Cathcart added.

Transitioning into a new role

Meta founder and Chief Executive Officer Mark Zuckerberg said Mr. Cathcart had been among the company’s most important leaders.

“Will Cathcart has announced that he is stepping down as the head of WhatsApp after seven years leading the app. He has been one of Meta’s most effective leaders, helping bring WhatsApp to over three billion people and championing privacy for our community. I am very grateful for his partnership and contributions over these years,” Mr. Zuckerberg said in a Facebook post.

He added that Mr. Cathcart would transition into a new role within Meta, where he would build products from the ground up, and that they would continue to work closely.

Who is Will Cathcart?

Mr. Cathcart is currently the head of WhatsApp, overseeing its development and strategy. He joined Meta, then known as Facebook, in 2010 and worked on a range of product initiatives, including leading development for the News Feed and introducing advertising into the feed and on mobile, according to the company.

In 2018, he served as Vice-President of Facebook, where he oversaw development and strategy for key products including Video, Groups, Marketplace, News Feed and Stories.

Stint at WhatsApp

Mr. Cathcart led WhatsApp through a significant phase of growth, expanding end-to-end encrypted messaging to more than three billion users worldwide, including over 100 million in the United States. This helped make private communication the default mode for a large share of users globally.

He also expanded WhatsApp beyond one-to-one messaging by introducing features such as Communities, to help groups organise conversations, and Channels, enabling users to follow individuals and organisations of interest.

More recently, WhatsApp rolled out private artificial intelligence features designed to offer AI capabilities without compromising message privacy. Mr. Cathcart has consistently advocated for user privacy, opposing efforts by governments seeking access backdoors, countering attempts by spyware companies to attack users and pursuing and winning legal action against companies such as NSO Group.

Education and early career

Before joining Meta, Mr. Cathcart worked at Google, where he focused on product development for anti-spam technologies across services including Gmail. He graduated from Colgate University with a bachelor’s degree in Mathematical Economics.