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Ujjwal Jain steps down from PhonePe’s Share.Market to start new chapter
Founder behind WealthDesk and OpenQ exits after decade-long fintech journey
BENGALURU: Ujjwal Jain, the entrepreneur behind platforms such as WealthDesk and OpenQ, has stepped down from his role as chief executive of Share.Market, the investing platform backed by PhonePe, marking the end of a decade-long journey in India’s capital markets space.
In a reflective note, Jain described his journey from launching WealthDesk in 2016 to building a broader ecosystem that eventually became part of PhonePe. Over the years, his ventures focused on bringing data-driven investing tools and model portfolios closer to retail investors, a space that has seen rapid evolution alongside the rise of discount broking.
WealthDesk introduced curated “WealthBaskets” to simplify portfolio investing, while OpenQ expanded access to quantitative research and analytics. Both platforms were later acquired by PhonePe, forming the backbone of Share.Market, which Jain helped scale as a mass-market investing product.
Calling the experience “brutal” yet deeply fulfilling, Jain credited colleagues, investors and industry partners for shaping the journey, highlighting the role of the PhonePe team in building Share.Market into a large-scale platform.
His exit comes at a time when artificial intelligence is beginning to reshape financial services globally. Jain indicated that his next move will focus on this shift, hinting at a renewed push into the intersection of AI and capital markets.
Prior to his entrepreneurial stint, Jain worked with MSCI Inc. on index products and technology, and with D. E. Shaw India Financial Services in algorithmic trading and high-frequency systems.
While he has not disclosed specifics of his next venture, Jain framed the move not as a departure but a reset, signalling that his next chapter will aim to tackle even larger challenges in India’s evolving investment landscape.
With one chapter closed and another underway, the focus now shifts to what Jain builds next in an increasingly AI-first financial world.
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Samsung India mobile chief quits after 18 years
Raju Antony Pullan’s exit leaves a gaping hole at the top as Chinese rivals tighten their grip
GURGAON: Raju Antony Pullan has had enough. The senior vice-president and head of Samsung India’s mobile phone business has put in his papers after 18 years at the Korean giant, a tenure long enough to have watched the company stride to the top of India’s smartphone market and then stumble, badly, as Chinese upstarts muscled in.
Pullan, who ran sales, marketing and every last function of the smartphone business, tendered his resignation on Thursday and is currently serving out his notice period. Samsung has not named a successor. It has a second line of leadership waiting in the wings, Aditya Babbar and Hiren Rathod among them, but no decision has been made on who steps up.
The timing is awkward. Samsung has been haemorrhaging market share to Chinese brands and now clings to a top-two position only in the premium segment, where it scraps it out with Apple. Losing the man who stewarded the mobile business through its best and worst years hardly helps steady the ship.
A company that once owned India’s smartphone market is now fighting to stay relevant in it. Pullan’s departure is less a footnote than a flashing red light.
