Meta names Indian entrepreneur Kunal Shah as WhatsApp head

Meta has appointed Indian fintech entrepreneur Kunal Shah as the new head of WhatsApp, as the US technology company looks for ways to generate more revenue from the messaging platform’s global user base.

Meta chief Mark Zuckerberg said Shah’s experience in building CRED made him suited to lead WhatsApp, which is the world’s largest messaging app.

Shah founded CRED in 2018 after selling his earlier payments startup to Indian e-commerce company Snapdeal for about $400 million.

CRED initially offered rewards to customers for making credit card payments on time. It has since expanded into wealth management, insurance and lending services, and now has 17 million users.

Shah is also known as one of India’s most active angel investors, according to data tracker Tracxn.

His appointment comes as WhatsApp looks to develop revenue streams beyond Meta’s core advertising business, which is centred on Facebook and Instagram.

India is WhatsApp’s largest market, with more than half a billion users, according to 2021 government figures.

However, analysts say the messaging platform has not been able to build a payments service in India with the same scale as its messaging product.

In May, WhatsApp introduced artificial intelligence tools for businesses in India, including services that allow companies to respond to customers around the clock and manage appointment bookings.

Shah said the gap between “WhatsApp today and its full potential is massive,” signalling scope for further product and business development.

The appointment was welcomed by parts of India’s startup sector, where Shah is seen as one of the country’s most prominent technology founders.

Sajith Pai of Blume Ventures, an early-stage Indian startup investor, said Shah was getting an “even bigger canvas” to work on, calling the appointment positive for India’s startup ecosystem.

Shah’s elevation also adds to the list of Indian-born executives taking senior roles at major Silicon Valley companies.