On Thursday, the food delivery giant Zomato announced that it would change its name to ‘Eternal’, revealing a new logo as it completes more than two years of using the name internally. This was after receiving the nod of approval from its board of directors. CEO Deepinder Goyal encouraged shareholders to approve the move.
“If and when it is approved, our corporate website will change from zomato.com to eternal.com. We will also change our stock ticker from ZOMATO to ETERNAL. Eternal will include four major businesses (as of now) – Zomato, Blinkit, District, and Hyperpure,” Goyal stated in a letter to shareholders.
Zomato rebrands as Eternal
The company first began using the name ‘Eternal’ internally after acquiring Blinkit, distinguishing it from the Zomato brand and 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,” Goyal explained, adding, “Today, with Blinkit, I feel we are there.
Recalling the Zomato’s journey, Goyal remembered the day when company first began from the name of Foodiebay which was changed to Zomato in the year 2007. And then, along with this passage of time, it emerged to be the very first Indian Startup listed on Sensex and marked the entry to BSE Sensex on last 23 December.
“This journey has created enormous wealth-not only for me, but also our employees, institutional investors, and retail shareholders,” Goyal added. But I didn’t 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,” he wrote. There is weight, and there’s expectation attached to that word,” Goyal acknowledged, on speaking about the importance of this new name. “Eternal is a bold name, and honestly, it scares me to my core. It is a huge order to be proved true. Because ‘Eternal’ carries both a promise and a paradox. True permanence isn’t built on bold claims of invincibility or the swagger of success,” he concluded.
