Food tech giant Zomato has rebranded itself as Eternal, with the company’s board approving the name change, according to a stock exchange filing on February 6.
“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 signicant driver of our future. Today, with Blinkit, I feel we are there. We would like to rename Zomato Ltd., the company (not the brand/app), to Eternal Ltd,” Deepinder Goyal, group CEO and co-founder of Zomato, said in a letter filed with the BSE.
However, Goyal had dismissed the report later that month, stating that Eternal is only an internal name and there were no plans to rename the Zomato app.
To clarify, while the Zomato app will retain its name, the stock ticker will be changed from Zomato to Eternal. As of now, Eternal will encompass four key businesses – Zomato, Blinkit, District, and Hyperpure.
“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,” Goyal added in his letter. “This isn’t just a name change; it is a mission statement. A reminder etched into our identity that we will endure — not because we are here, but because we need to get there.”
“Currently we are going through a broad-based slowdown in demand which started during the second half of November,” Rakesh Ranjan, CEO, food ordering and delivery business, Zomato (now Eternal) said in the company’s shareholder letter on January 20 while announcing the company’s results.