Zomato adopts new identity as 'Eternal', delivery business unaffected
Goyal explained that after acquiring Blinkit, the term 'Eternal' was used internally to differentiate between the corporate entity and the Zomato brand.
The parent company of Zomato will be rebranded as Eternal Ltd., following board approval, though the food delivery service will retain its original name, according to CEO Deepinder Goyal's letter to shareholders.The renaming reflects the company's evolution beyond its core food delivery business. Goyal explained that after acquiring Blinkit, the term 'Eternal' was used internally to differentiate between the corporate entity and the Zomato brand.
Company growth strategy
The timing of the public rebranding coincides with Blinkit becoming a significant part of the company's growth strategy.The board's approval for renaming comes after a significant milestone - Zomato's inclusion in the BSE Sensex in December 2023, marking 17 years since its founding. Goyal acknowledged this achievement as both a proud moment and one that brings increased responsibility as India's first tech startup to join the index.
Stock symbol changing
Under the Eternal Ltd. umbrella, four distinct businesses will operate: Zomato, Blinkit, District, and Hyperpure. Following shareholder approval, the company will transition its web presence from zomato.com to eternal.com, with its stock symbol changing accordingly from ZOMATO to ETERNAL.Reflecting on the new name, Goyal offered a philosophical perspective, suggesting that true permanence comes from acknowledging limitations rather than claiming invincibility. He framed the rebranding as more than just a name change - it represents the company's commitment to sustained growth and resilience.
(Except for the headline, nothing has been changed by AINN in the PTI copy.)
