Zomato’s Big Leap: Say Hello to Eternal Ltd
Food tech giant Zomato is making a bold move. The company has officially changed its corporate name to Eternal Ltd. This decision comes after 99.75% of shareholders voted in favor of the resolution. The company revealed this in a stock exchange filing on March 9.
CEO Deepinder Goyal had hinted at this transformation a month ago. His vision? To expand beyond food delivery and create a diversified business empire.
Why the Name ‘Eternal’?
The shift is not just about a name change. It’s a statement of intent. Goyal believes the new name symbolizes long-term endurance and ambition. “Eternal is a powerful name. It carries both a promise and a paradox,” he wrote in a letter to the BSE on February 6. According to him, this change represents their long-term commitment to growth beyond food delivery.
What Does This Mean for Zomato and its Services?
With this transition, Eternal Ltd will house four key businesses:
- Zomato: Food delivery remains a core focus.
- Blinkit: The quick commerce arm for rapid deliveries.
- District: A platform for exploring local outings.
- Hyperpure: A B2B grocery supply business.
The company initially started using the name internally after acquiring Blinkit. This helped distinguish the corporate entity from its app-based food delivery brand.
This rebranding comes at a time when the food delivery business is experiencing a slowdown. Even Zomato’s top competitor, Swiggy, is facing similar challenges.
By diversifying, Eternal Ltd is preparing for the future. Blinkit, in particular, has emerged as a key player in the company’s growth strategy. Goyal believes that Blinkit has now reached a point where it significantly contributes to the company’s future direction.
For consumers, the experience on the Zomato and Blinkit apps will remain unchanged. However, industry watchers are keen to see how this rebranding impacts the company’s overall business strategy.
