Zomato Shareholders Back 'Eternal' Name to Reflect Growth Strategy

In a strategic effort to adapt to its changing business environment, Zomato has revealed a corporate rebranding to 'Eternal'. This decision, which received approval from shareholders via a special resolution, reflects a larger vision for the company's future as a diversified technology ecosystem.

Rebranding with a Purpose

The firm is taking the new name "Eternal" for its corporate brand, but the well-known Zomato logo will remain to symbolize its food delivery business. This action reflects the firm's expansion into various industries outside its original food delivery niche. Eternal will now house four key verticals:

•    Zomato (food delivery)
•    Blinkit (quick commerce)
•    Hyperpure (B2B grocery delivery)
•    District (a yet-to-be-launched initiative)

The approval for this transformation was confirmed in a regulatory filing, which stated:

“In connection with the above-referred matter, I submit my shareholders of the Company have duly passed the special resolution for the item as set out in the Notice approving the following: To approve change of name of the Company and consequent alteration in the Memorandum of Association and Articles of Association of the Company,” stated the regulatory filing.

The Role of Blinkit in the Evolution

As founder and CEO Deepinder Goyal has hinted, the move to 'Eternal' is a sign of Blinkit's increasing clout inside the organisation. "After purchasing Blinkit, we began using 'Eternal' internally instead of Zomato to set the company apart from the brand/app.  We also believed that we would publicly rename the company to Eternal when something beyond Zomato became a key driver of our future. Today, with Blinkit, I feel we have reached that point," Goyal wrote in a letter to shareholders.

The rebranding was executed during the first week of February and declared by Zomato CEO Deepinder Goyal. In a letter to shareholders in the previous month, Goyal stated, “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.”

He also specified that Zomato's company website will switch from zomato.com to eternal.com, as well as a change to the company stock ticker. The rebranding signifies Zomato's aim to build a wider tech-centric ecosystem, moving past merely a food delivery service and toward an innovative future with multiple business segments.

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