E-Paper
Zomato renamed ‘Eternal’, food delivery company unveils new logo
Zomato name change: In a letter to shareholders on Thursday, Deepinder Goyal said company board has approved the name change.
Food and grocery delivery platform Zomato said on Thursday it will rename the company to "Eternal" and unveiled a new logo, in a move that comes more than two years after Deepinder Goyal-led firm began using the new name internally.
In a letter to shareholders on Thursday, Deepinder Goyal said the company board has approved the name change, requesting shareholders to also support this change.
“If and when it is approved, our corporate website will transition from zomato.com to eternal.com. We will also change our stock ticker from ZOMATO to ETERNAL. Eternal will comprise four major businesses (as of now) – Zomato, Blinkit, District, and Hyperpure,” Deepinder Goyal said in the letter.
He recalled how Foodiebay became Zomato after 17 years of company's founding in 2007 and became the first startup in India to make it to the Sensex. Zomato entered BSE Sensex on December 23 last year.
“This journey has created tremendous wealth — not just for me, but for our employees, institutional investors, and retail shareholders. But I did not start Zomato to make money. I started it because I wanted to do something worthwhile with my life. One weekend, I went around town, collected takeaway menus, and uploaded them onto a website — purely in the spirit of service. I never thought it could be a business. I wasn’t looking for revenue. I was simply trying to be helpful,” Deepinder Goyal said in his letter.
‘Eternal’ being used internally since 2 years
When Zomato acquired Blinkit, it started using “Eternal” (instead of Zomato) internally to distinguish between the company and the brand/app, Deepinder Goyal wrote.
“We also thought that we would publicly rename the company to Eternal, the day something beyond Zomato became a significant driver of our future, he wrote, adding that, ”Today, with Blinkit, I feel we are there."
“We would like to rename Zomato Ltd., the company (not the brand/app), to Eternal Ltd…. Eternal is a powerful name, and to be honest, it scares me to my core. It is a tall order to live up to. Because ‘Eternal’ carries both a promise and a paradox. True permanence isn’t built on bold claims of invincibility or the swagger of success,” Deepinder Goyal added.
