Deepinder Goyal, who is CEO of Zomato, has posted an announcement letter on his X account
According to sources and LiveMint, the reason behind name changes is that the CEO wants the business at the top level even after the current leader is no longer in their position.
The Board approved the decision, showing Zomato is growing beyond food delivery with Blinkit, District, and Hyperpure now important for its future.
Zomato’s CEO expressed his thoughts on how Zomato was launched with the first name “ Foodiebay” in 2007. It was a simple website on which they uploaded restaurant menus.
Moreover, Goyal said, there were many obstacles to face, but somehow they managed and became the first tech startup in India with a listing on the BSE Sensex.
In addition, Goyal said, he did not start Zomato to make money; in fact, he just wanted to do something worthwhile in his life, however, he created huge wealth not only for himself but also for employees, institutional investors, and retail shareholders.
Goyal said, “ Eternal is not just a name, but it represents a mission statement. “We shape our institutions, and then they shape us”.
With Blinkit emerging as a major driver of growth alongside its core food delivery business, the leadership felt that the time was right for a rebranding that encapsulates the company’s expanding portfolio.
“To work at Eternal will be to wake up every day knowing that our forever is earned in moments of self-doubt, in acknowledging our limitations, in our constant hunger to be better than we were yesterday,” according to him and Livemint.
As per the shareholder acceptance, the company will change its website name from Zomato.com to Eternal.com and also alter its stock ticker from ZOMATO to ETERNAL.
This new venture will be surrounded by four main businesses: Zomato (food delivery), Blinkit (fast shopping), District (business logistics), and Hyperpure (supplies for restaurants).
Goyal concluded with the statement, “A company has many key moments, and I hope this change is another step into our future.”
