Zomato’s parent company is set to be renamed Eternal Ltd., pending approval from shareholders. CEO Deepinder Goyal shared the news in a letter to shareholders and on X (formerly Twitter). The new name highlights the company’s expansion beyond food delivery. Zomato’s board has approved the change, and the company will update its website and switch its stock ticker from ZOMATO to ETERNAL.
Eternal will consist of four main business divisions: Zomato’s food delivery service, Blinkit’s quick-commerce unit, District’s live events business, and Hyperpure’s kitchen supplies division, the company stated.
Founder Deepinder Goyal mentioned in a letter to shareholders that the company considered a public name change when something beyond Zomato began to play a significant role in its future. Goyal expressed that with Blinkit now part of their operations, they had reached that point. He clarified that the name change would only apply to the company itself, not to its brand or app. Additionally, the stock ticker will be updated from ZOMATO to ETERNAL, and the corporate website will shift from zomato.com to eternal.com.
This change reflects a turning point for the food and grocery delivery platform, moving from investor doubts following Zomato’s mid-2022 acquisition of Blinkit to increasing investor interest in its quick-commerce-led growth. Blinkit, along with Swiggy’s Instamart, has transformed shopping habits in India, prompting retailers like Reliance’s JioMart, Amazon, and Walmart’s Indian division to introduce their own quick-commerce services.
How was Zomato founded?
In 2008, Deepinder Goyal and Pankaj Chaddah left their high-paying jobs at Bain & Co. to explore India’s emerging online food market. Initially launched as ‘FoodieBay,’ the platform was rebranded as Zomato in 2010 and is now transitioning to ‘Eternal.’ Zomato expanded its services to cover online ordering, table reservations, food delivery, and digital payments, with Chaddah playing a key role in its growth. He helped turn Zomato into a comprehensive food platform by identifying growth opportunities, optimizing operations, and building lasting relationships with investors and restaurant partners.
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