Food-tech giant Zomato announced on Thursday that it will officially change its name to “Eternal,” a move that comes more than two years after the company started using the new name internally.
“We thought of publicly renaming the company when something beyond Zomato became a significant driver of our future,” Founder Deepinder Goyal said in a letter to shareholders. “Today, with Blinkit, I feel we are here,” Goyal said.
The CEO said that the name change applies solely to the company, not its brand or app. The stock ticker will switch from ZOMATO to ETERNAL, and the corporate website will change from zomato.com to eternal.com.
“Our Board has approved this change today and I request our shareholders to also support this change. If and when it is approved, our corporate website will transition from zomato.com to eternal.com. We will also change our stock ticker from ZOMATO to ETERNAL,” he said.
This move marks a shift for the food and grocery delivery platform, shifting from investor skepticism over Zomato’s mid-2022 acquisition of Blinkit to growing investor interest in its quick-commerce-driven growth.
Blinkit and Swiggy’s Instamart have reshaped shopping trends in India, pushing retailers like Reliance’s JioMart, Amazon, and Walmart’s Indian arm to launch their own quick-commerce services.
