Deepinder Goyal reveals reason for changing ‘accidental company’ Zomato’s name to ‘Eternal’: ‘It scares me to my core…’ | Company Business News

Online food delivery platform Zomato Ltd’s board of directors on Thursday, February 6, approved the name change of the holding company to “Eternal” without changing the name of the brand or the app, according to an exchange filling. 

In his letter to the shareholders on Thursday, Chief Executive Officer (CEO) Deepinder Goyal said, “Zomato is an accidental company,” born out of a desire to serve, which became a business over time.

“Eternal is a powerful name, and to be honest, it scares me to my core. It is a tall order to live up to. Because ‘Eternal’ carries both a promise and a paradox. True permanence isn’t built on bold claims of invincibility or the swagger of success. It is forged in the quiet understanding that our immortality stems from our mortality — because the day we think we will last forever simply because we declare it, we begin our end,” said Goyal in his letter. 

Origin of ‘Eternal’

Deepinder Goyal, in his letter, also addressed how the company started using the name “Eternal” instead of Zomato when they acquired Blinkit to differentiate between the company and the brand or the application.

“We also thought that we would publicly rename the company to Eternal, the day something beyond Zomato became a signicant driver of our future,” said Goyal, highlighting that, along with Blinkit, the company feels that the time has come.

However this change is only for the name of the holding company the online food delivery application Zomato and quick commerce platform Blinkit will retain it name, after the Ministry of Corporate Affairs (MCA) approves the name change. 

Goyal aims that working at Eternal is set to be a wake of the fact of 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.

Terming it a “mission statement,” Goyal said that the name “Eternal” is a powerful name that scares him to the core because it is a tall order to live up to.

The CEO also said that after the approval of the new name, the main website will be converted from zomato.com to eternal.com, and the stock market ticker will become ETERNAL from ZOMATO. The company will have four business brands under its holdings – Zomato, Blinkit, District, and Hyperpure.

Zomato shares closed 0.95% lower at ₹229.05 after Thursday’s market session, compared to ₹231.25 at the previous market close. The company announced the board approval of the name change after stock market operating hours on February 6.