Meta has acquired a minority stake of 20% in the Indian financial technology (fintech) startup CRED.
The acquisition was completed through a Series H funding round worth $900 million (₹8,550 crore), which values the company at $4.5 billion.
Meta has acquired a minority stake of 20% in the Indian financial technology (fintech) startup CRED.
The acquisition was completed through a Series H funding round worth $900 million (₹8,550 crore), which values the company at $4.5 billion.
Kunal Shah, the founder of CRED, has been appointed as the Global Head and CEO of WhatsApp. He succeeds Will Cathcart. It is to be noted that he is the first Indian to lead the messaging platform.
Concurrently, Miten Sampat has been appointed as the interim CEO of CRED, as Kunal Shah has stepped down from the position.
Meta has partnered with Reliance Industries Ltd (RIL) to develop its first large-scale AI-enabled data centre in Jamnagar, Gujarat.
Under the agreement, the former will lease 168 MW of AI-ready data centre capacity from RIL, with operations expected to commence by 2028.
The Gujarat government has signed an MoU with Meta Platforms Inc to launch a WhatsApp chatbot under the ‘Sugam Digital’ initiative.
The 2-year collaboration aims to enhance e-governance in the state by implementing AI driven public services, accessibility projects, and digital skilling programmes. Through this chatbot, citizens can access around 20 public services from 5 departments in both Gujarati and English.
Parminder Singh has been appointed as the CEO of Reliance Enterprise Intelligence Ltd (REIL) with immediate effect. It is to be noted that REIL is a joint venture (JV) between Reliance Intelligence Ltd and Facebook Overseas Inc of Meta.
Meta Platforms Inc. has launched a new Artificial Intelligence (AI) model titled “Muse Spark”, marking the first release from its superintelligence team under the “Avocado” series.
Initially available on Meta AI platforms, the AI model is scheduled to replace Llama-based chatbots on WhatsApp, Instagram, Facebook, and smart glasses.