Indian food and grocery delivery platform Zomato has officially changed its corporate name to Eternal Ltd, the company said on Thursday. The moves come more than two years after it started using the new name internally. The food-tech giant also unveiled a new logo.
While the app will retain its name, Zomato’s stock ticker will be updated to 'Eternal'. The rebranded Eternal Ltd will now oversee four key businesses:
1. Zomato – Food delivery and restaurant discovery
2. Blinkit – Quick-commerce platform
3. Hyperpure – B2B supplies for restaurants
4. District – Logistics business
“When we acquired Blinkit, we started using ‘Eternal’ internally to distinguish between the company and the brand/ app. We also thought 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,” Deepinder Goyal, group CEO and co-founder of Zomato, said in a letter to the BSE.
Reports about a possible rebranding first hit the headlines in 2022, but Goyal had dismissed them at the time, stating that "Eternal" was just an internal identity. With Blinkit becoming a major growth driver, the company has now formalised the name change.
Blinkit as well as early bird Swiggy's Instamart have driven a shift in the way Indians shop, and forced retailers such as Reliance Industries' JioMart as well as Amazon and Walmart's Indian business to launch their own quick-commerce services.
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