Zomato to not rebrand app to Eternal: CEO
1 min read 29 Aug 2022, 05:49 PM ISTWeeks ago, Goyal shared a note with his team about rebranding the larger Zomato organization (post the acquisition of Blinkit) as Eternal
Premium
Zomato's founder and CEO Deepinder Goyal on Monday clarified that he has no plans to rebrand the app to ‘Eternal’, weeks after him sharing an internal note with his team about internally rebranding the larger Zomato organization (post the acquisition of Blinkit) as ‘Eternal’.
“I am as excited about continuing to build Zomato as I ever was, if not more. I believe that Zomato is my life's work, and the hardest (and the most fulfilling) part of the journey is still ahead of me. This announcement does not change anybody’s roles and responsibilities (including and particularly mine) at Zomato," Goyal said in a letter to the exchanges on Monday.
Earlier this month, Mint had reported that the online food delivery aggregatorZomato is moving to a multiple CEO structure for its businesses that will be housed under a larger organisation called Eternal.
Since his internal note, Goyal said that there have been a lot of questions on what this announcement really means. “Infact, one of the questions that I have been asked most frequently by investors recently has been along the lines of – “What’s the rationale behind Eternal? Does it mean that you intend to gradually start moving away from the day-to-day of the business? Is this a plan for you heading to the hills eventually?"," he said.
Explaining the reasons of why Eternal, Goyal said that they needed to make sure that both Zomato and Blinkit were placed at par within the importance hierarchy. “Also, for what it's worth, Eternal remains an internal identity – it is currently only a notion to bind all our different businesses and leaders under a common name and a mission, and there is NO plan whatsoever to rebrand the Zomato app to Eternal. We want each of our businesses to be built with a very long term view, well beyond our lifetimes."
Zomato currently has four companies - Zomato, Blinkit, Hyperpure, and Feeding India. It has been actively investing in startups. Last year, it invested in Blinkit (formerly Grofers), business-to-business (B2B) logistics technology player Shiprocket, and hyperlocal discovery platform magicpin and fitness major Curefit.
