Meta did this with Scale AI when it brought in Alexandr Wang to spearhead its superintelligence unit and made him chief AI officer. Two years ago, Google made a similar move when it paid Character.
AI $2.7 bn to license its models, while bringing cofounders Noam Shazeer (who recently left for OpenAI) and Daniel De Freitas back in-house to work on its AI model Gemini. Microsoft paid Inflection AI $650 mn in 2024, largely to license its technology, while hiring cofounder Mustafa Suleyman and most of staff to build out Microsoft AI.
Every single one of these founders was US-based, building AI-native startups, and already inside the Valley talent map. More importantly, they were the hottest AI researchers and engineers being wooed by cash-rich tech giants, and even startups like OpenAI and Anthropic.
That playbook was flipped this Monday by Mark Zuckerberg. Meta picked an Indian entrepreneur founder-builder of a fintech startup in Bengaluru who’s neither an engineer nor AI researcher.
On top of that, Mumbai-born and -bred, Wilson College philosophy graduate Kunal Shah – known as much for his entrepreneurial chops as for his philosophical and sociological takes on issues – isn’t running an AI company. While using the same Silicon Valley mechanics, Zuckerberg’s installed an Indian founder directly into the C-suite of a global consumer product, signalling how significant the local market is for the tech giant.
Meta wants to gain from Shah’s immense consumer and social insights of having built products like Freecharge (which was sold to Snapdeal and subsequently acquired by Axis Bank) and Cred. Even as Shah doesn’t tick any of the Valley archetype boxes of the latest spate of ‘reverse acqui-hires’, the cost of bringing on board the entrepreneur has meant Meta ploughing $900 mn to buy primary and secondary stake in the 8-yr-old fintech startup.
Beyond the prize of getting Shah, the investment is focused on leveraging the billions of WhatsApp users for transactions. Shah’s ascension isn’t the by-now standard Pichai-Nadella model of coming up from the proverbial shopfloors of Google and Microsoft to the top. Shah didn’t do any Big Tech stints, and has, for the most part of his life, been an entrepreneur.
Which is why Zuckerberg’s framing that Shah brings ‘builder mentality and global perspective’ to WhatsApp makes it clear that Meta thinks the next phase of the messaging app’s growth, especially in payments and commerce, may be on the lines of what Shah built at Cred. While questions have been repeatedly raised about Cred’s struggle towards profitability, Meta’s struggles with monetising WhatsApp have been similar – at a far larger scale, of course.
So, bringing Shah’s thought process to solve the problem could be a win for Meta, which sees WhatsApp as primarily an emerging markets business.
Since inception in 2018, Cred’s reputation has rested as much on its obsessive product design, as on Shah’s instinct for narrative and positioning. WhatsApp needs someone who can make payments and commerce feel native to a messaging habit of a billion-plus. That’s a product and storytelling problem that Shah has spent long enough time proving that he could handle both.
In May 2025, WhatsApp crossed 3 bn monthly users, with India alone accounting for more than 850 mn of them. Shah’s understanding of consumer economy will be key to monetising WhatsApp. Already, there’s chatter that his tenure at WhatsApp will be short, that he’ll get back to being an entrepreneur, and that Meta will eventually buy Cred outright. But, for now, Shah’s cracked the ‘reverse acqui-hire‘ code. And he did it with a non-AI company.
