Brands
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.
Brands
Nykaa promotes Pearl Shah to senior vice president for owned brands
Beauty major taps in-house marketing leader to scale private labels portfolio
MUMBAI: Nykaa has elevated Pearl Shah to senior vice president for its owned brands portfolio, signalling a continued push to scale its fast-growing private label business.
In her new role, Shah will oversee brands such as Kay Beauty, Nykaa Cosmetics, Nykaa Wanderlust and Nykaa Fragrances, which together account for a business estimated at over Rs 700 crore and are on track to cross the Rs 1,000 crore mark.
Shah has been with Nykaa for over three years, most recently serving as vice president for marketing of owned brands, where she led portfolio strategy and growth across categories. Her elevation reflects the company’s focus on strengthening its in-house brands, a key lever in its broader profitability and differentiation strategy.
Before joining Nykaa, Shah held leadership roles across consumer and digital-first companies. At Unilever, she was brand head for Love Beauty & Planet and earlier worked on Lakmé. She was also part of the founding marketing team at CRED, and has held senior marketing roles at Snapdeal and Jabong.
Her academic background includes a master’s degree in fashion journalism from the University of the Arts London and a fashion styling qualification from Istituto Marangoni in Milan.
The appointment comes as Nykaa continues to double down on its owned brands segment, which has emerged as a key growth engine in India’s competitive beauty and personal care market.
