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BIZARRE: Cred - What They Never Told You

Adobe’s next boss joins a powerful club: Meet the Indian-origin CEOs running the world’s biggest companies

Adobe’s next CEO Anil Chakravarthy is joining a powerful club. From Microsoft and Google to Chanel, FedEx and Micron, Indian-origin executives now run companies spanning technology, banking, luxury, pharmaceuticals and manufacturing. Here are the leaders occupying some of the biggest corner offices in global business.

The Economic Times

Ringg AI raises $10 million in funding from Peak XV Partners, others

Founded in 2023 by Siddharth Tripathi, Kali Charan Vemuru and Utkarsh Shukla, the startup counts Policybazaar, CRED, Flipkart, Groww and Practo among its customers.

The Economic Times

Meta’s WhatsApp Shakeup Could Put India at the Center of Its Next Growth Push

Meta is investing $900 million in Indian fintech Cred to bring founder Kunal Shah on to lead WhatsApp, aiming to boost monetization of the platform's 3 billion users.

MarketBeat

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ETtech Deals Digest: Cred’s mega round lifts startup funding to $1.09 billion this week, up 290% on-year

Indian startups secured a significant $1.09 billion in funding across 14 deals, with fintech giant Cred leading the charge with a massive $900 million round. This surge, primarily driven by late-stage investments, marks a substantial increase from previous weeks. Notable participants included Bessemer Venture Partners and Norwest, backing firms like…

The Economic Times

Meta Platforms Just Took a 20% Stake in Cred. What That Means for META Stock.

Meta's $900 million acquisition underscores the popularity of a growing Indian fintech market, and Meta knows it.

Barchart

Kunal Shah net worth and his inCREDible journey to Meta's WhatsApp

Kunal Shah, the visionary behind CRED and FreeCharge, is now the Global Head of WhatsApp. This significant appointment, coupled with Meta's substantial investment in CRED, underscores Shah's remarkable entrepreneurial journey. From his early ventures to building a fintech unicorn, Shah's influence in the startup world continues to grow, now extending…

The Economic Times

Meta makes a $900 million super-app move in India

Cred founder Kunal Shah, a philosophy graduate, built his platform on exclusivity for high credit scorers, now processing over 40% of India's credit card bills. While Meta's interest raises data control questions, Shah faces the challenge of creating a fair commercial portal. His next task is to expand Cred beyond…

The Economic Times

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'Kunal Shah won't even get a fresher job at TCS or Infosys': Founder highlights flaws in corporate hiring practices

Kunal Shah, the visionary behind CRED and FreeCharge, has been appointed global head of WhatsApp at Meta. His remarkable ascent, despite lacking traditional elite degrees, highlights a significant gap in Indian hiring practices. Startup founder Riya Upreti points out that many companies prioritize academic credentials over demonstrable skills, potentially overlooking…

The Economic Times

Meta’s Chris Cox sought Kunal Shah’s WhatsApp advice - then made him leader

Meta Chief Product Officer Chris Cox reached out to Shah directly in the spring, seeking advice on picking the future leader of WhatsApp. Cox had been calling entrepreneurs and investors in places like India, Brazil and Mexico, countries where WhatsApp is a dominant part of business and culture, and Shah’s…

The Economic Times

Zuckerberg bets on Kunal Shah for WhatsApp’s aggressive financial services, AI push

Meta's WhatsApp is set for a major financial services and AI push with Kunal Shah at the helm. This move aims to leverage AI agents and the Meta AI chatbot to drive growth, particularly in India, a key market with over half a billion users. Shah's appointment signals India's growing…

The Economic Times

Meta's WhatsUpside Down hire: How Kunal Shah broke the Valley playbook

Silicon Valley's AI talent war saw tech giants acquire engineers. However, Meta's Mark Zuckerberg broke the mold by investing $900 million in Indian fintech startup Cred and bringing its founder, Kunal Shah, into WhatsApp's C-suite. Shah, a non-engineer with deep consumer insights, is tasked with boosting WhatsApp's payments and commerce,…

The Economic Times

WhatsApp's future may not be invented in US but in India, one transaction at a time

Meta’s $900 million investment in Cred and the reported appointment of founder Kunal Shah to a global role at WhatsApp marks a significant shift in how the messaging platform may evolve.

The Economic Times

Why Meta’s Cred investment matters for WhatsApp Pay in India

Meta's substantial investment in Cred and appointing its founder Kunal Shah as global head of WhatsApp signals a major push into India's fintech landscape. For Meta, with Shah at the helm, there is a chance that WhatsApp's position in India, its largest market, will go beyond messaging into payments, commerce,…

The Economic Times

Inside Meta's India investments: First Reliance, now Cred

This was among the tech giant's biggest investments in the Indian startup ecosystem, which also shot Shah into the elite club of global tech leaders. Zooming out, here’s a look at Meta’s other investments in India, one of its biggest and most lucrative markets.

The Economic Times

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The Economic Times

Cred founder Kunal Shah’s appointment as WhatsApp CEO sparks discussion on social media

Industry leaders welcomed the leadership transition and acknowledged outgoing WhatsApp executive Will Cathcart's contributions.

The Economic Times

Foreign influence increasing over India's fintech sector: GTRI on Meta's investment in Cred

Think tank GTRI said that the deal gives Meta a foothold in one of the country's richest repositories of consumer financial-behaviour data, covering credit cards, loans, investments, insurance, and UPI transactions. On the other hand, it said China built its digital payments ecosystem through domestic champions such as Alipay and…

The Economic Times

Intellectual curiosity & infectious optimism: Industry cheers Kunal Shah's new role as WhatsApp Head

India Inc. is celebrating Kunal Shah's appointment as WhatsApp head, hailing it as a milestone for Indian startup leadership. Industry leaders lauded his "intellectual curiosity" and "infectious optimism," noting his unique philosophy background and entrepreneurial journey. Meta's investment in his fintech firm CRED and Shah's deep understanding of consumer behavior…

The Economic Times

Meta's Cred deal showcases new playbook: take stake, hire the founder

Meta is strategically acquiring minority stakes in tech firms and integrating their founders into senior roles, a pattern evident with Cred and Scale AI. This "acquihire" approach allows Meta to rapidly gain specialised talent and influence, bypassing lengthy onboarding processes and regulatory hurdles of full acquisitions. While founders benefit financially…

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The Economic Times

Meet Kunal Shah: He once worked as a delivery boy to support family. Now he's set to lead world's biggest messaging platform

Kunal Shah, the visionary behind fintech success CRED and FreeCharge, is set to lead Meta's global messaging giant, WhatsApp. Shah, who previously overcame family bankruptcy by working odd jobs, will transition from his operational role at CRED, where he built a 17-million-member platform. He believes WhatsApp holds immense untapped potential,…

Whats Hot

Kunal Shah Joins Meta as WhatsApp Head, Steps Down from CRED

In a major development that has surprised and delighted the Indian startup ecosystem, CRED founder Kunal Shah is set to join Meta as the Global Head of WhatsApp. The announcement comes alongside leadership changes at CRED, where Shah will step down as CEO, handing over interim charge to Miten Sampat.

International Business Times UK

Who Is Kunal Shah? The Indian Founder Meta Bet $900 Million on to Lead WhatsApp

Kunal Shah, founder of CRED, appointed as global head of WhatsApp by Meta, following a £680 million investment in his startup. Miten Sampat steps in as interim CEO of CRED.

The Independent UK

Meta hires Indian fintech start-up founder as new WhatsApp chief

Kunal Shah’s appointment comes after Meta invests $900m in his company

The Economic Times

Kunal Shah heads to Meta; New-age IPO playbook

Happy Tuesday! Kunal Shah has taken over as WhatsApp's chief, while Meta backs Cred in a major funding deal. This and more in today’s ETtech Morning Dispatch.

The Economic Times

Kunal Shah's WhatsApp appointment underscores India's expanding Big Tech footprint

Kunal Shah, CRED founder, is set to lead WhatsApp globally, joining a distinguished line of Indian-origin tech leaders. This appointment highlights the increasing influence of Indian talent in steering major global technology firms. Recent moves include Asha Sharma at Microsoft Gaming and Rahul Patil at Anthropic, building on the legacies…

The Economic Times

Meet Kunal Shah, serial entrepreneur and Meta's pick to lead WhatsApp

Indian tech entrepreneur Kunal Shah is set to lead WhatsApp, the world's largest messaging platform, succeeding Will Cathcart. Shah, the founder of fintech unicorn CRED and pioneer of digital payments with FreeCharge, brings extensive experience in building successful tech ventures. Meta's investment in CRED and Shah's deep understanding of user…

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