Kunal Shah exits CRED for Meta's WhatsApp; Meta takes 20% in CRED at $4.5B
Founder-CEO Kunal Shah departs to run WhatsApp globally at Meta, which simultaneously invests $900M for ~20% of CRED at a $4.5B valuation. Miten Sampat steps in as interim CEO. The twin move signals Meta's sharper bet on India payments and commerce via WhatsApp Pay against PhonePe and Google Pay.
Kunal Shah exits as CRED CEO to lead WhatsApp globally at Meta, which invests $900M for ~20% in CRED at $4.5B valuation. Miten Sampat becomes interim CEO. Signals deeper Meta push into India payments/commerce via WhatsApp Pay.