Meta plans to invest $900 million in Cred and rearrange WhatsApp management.

Meta plans to invest about $900 million in the Indian financial technology company Cred, acquiring about 20% of the company's shares. The post-investment valuation of the company is about $4.5 billion. As part of the deal, Cred's founder Kunal Shah will take over as head of WhatsApp, replacing Will Cathcart, while Cathcart will move to a new AI-related position within Meta.