Meta plans to invest $900 million in Cred and adjust WhatsApp management team

Meta plans to invest approximately $900 million in Cred, an Indian fintech company, to acquire a 20% stake, with a post investment valuation of approximately $4.5 billion. Cred founder Kunal Shah will replace Will Cathcart as the head of WhatsApp, and Will Cathcart will be transferred to a new AI related position within Meta.