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Zomato Ltd on Thursday announced that its board has apporved the change of name of the company to Eternal Ltd., marking a significant transformation in its corporate identity.
Deepinder Goyal, CEO, Zomato made this announcement on his official social media handle on X by posting the formal announcement letter. https://x.com/deepigoyal/status/1887466772522991973?t=DyCWVFWZX4P9x_5ZqFYBGA&s=08 The decision, approved by the company's Board, reflects Zomato's evolution beyond food delivery, with businesses like Blinkit, District, and Hyperpure now playing a crucial role in its future. In a heartfelt message to shareholders, Goyal shared his reflections on the company's journey. He recalled how Zomato--originally launched as Foodiebay in 2007--had its humble beginnings as a simple website to upload restaurant menus. Over the years, the company defied the odds to become India's first tech startup to be listed on the BSE Sensex, a moment he described as a source of both pride and responsibility. "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," Goyal stated. The decision to rename Zomato Ltd. to Eternal Ltd. stems from the company's broader vision of building an enduring institution that lasts beyond its current leadership. "We shape our institutions, and then they shape us," he said, emphasizing that Eternal is more than just a name change--it represents a mission statement. With Blinkit emerging as a major driver of growth alongside its core food delivery business, the leadership felt that the time was right for a rebranding that encapsulates the company's expanding portfolio. "To work at Eternal will be to wake up every day knowing that our forever is earned in moments of self-doubt, in acknowledging our limitations, in our constant hunger to be better than we were yesterday," he noted. Following shareholder approval, the company will transition its corporate website from zomato.com to eternal.com and change its stock ticker from ZOMATO to ETERNAL. The new entity, Eternal Ltd., will encompass four major businesses: Zomato (food delivery), Blinkit (quick commerce), District (B2B logistics), and Hyperpure (restaurant supplies). "A company has multiple founding moments, and I hope this change is another one in our journey into the future," Goyal concluded. (ANI)
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