Kunal Shah exits Cred board and promoter role after taking WhatsApp global CEO job
Cred founder Kunal Shah stepped down as promoter and board member, converting his 11.14% stake to public shares while retaining ~20%, following his move to lead WhatsApp. Meta invested ₹8,550 crore ($890M) for ~20%, pegging Cred at a $4.5B valuation, down from $6.4B in 2022, as IPO signals build.
Kunal Shah stepped down as promoter and board member of fintech-rewards platform Cred after becoming WhatsApp's global CEO, converting his 11.14% stake to public shares. Meta invested ₹8,550 crore for ~20%, valuing Cred at $4.5 billion; IPO signals emerge.