Zomato to be renamed Eternal

MUMBAI: Zomato is renaming the company as Eternal to reflect the firm’s foray into other segments like quick commerce which has grown to be a big driver of the overall business. The Gurgaon-based listed startup’s core business is in the food delivery market which is a duopoly between Zomato and Swiggy. “When we acquired Blinkit, we started using Eternal (instead of Zomato) internally to distinguish between the company and the brand/app. We also thought that we would publicly rename the company to Eternal, the day something beyond Zomato became a significant driver of our future. Today, with Blinkit, I feel we are there,” co-founder and CEO Deepinder Goyal told shareholders in a letter on Thursday. The move is not a typical rebranding exercise because the standalone Zomato brand and app will remain intact; only the name of the company will change.
Eternal will house four businesses—Zomato, Blinkit, District and Hyperpure. Zomato had acquired Blinkit in a Rs 4,447 crore deal in 2022 to tap into the opportunity for rapid deliveries which today has grown far beyond groceries to cover a range of non-grocery categories including electronics, fashion and beauty. Zomato’s Blinkit competes with Swiggy and other players like Zepto and Tata’s BigBasket in quick commerce. 10-minute deliveries have gained traction in the metros where time constraints have pushed people to sign up for quick commerce. The market, still being nascent is growing faster than food delivery.
Zomato’s board of directors have approved the name change and the process requires a few other approvals for the same to take effect. Eventually, Zomato’s corporate website and stock ticker will transition to Eternal.