Mumbai: Zomato has changed its name to “Eternal,” said the food tech company. The company board has approved this change, which was announced in a filing to the stock exchange on Feb. 6.
However, the name change is also because BlinkIt had already adopted the “Eternal” name as part of the separation between the company and its brand/app, Zomato said in a statement. “For the same reason we are only identifying a part of our companies with the name change : it helps avoid confusion,” Zomato Group CEO and co-founder Deepinder Goyal added.
Goyal added that as Zomato scales, the company name will also be rebranded to Eternal. As a result, Zomato Limited will change its name to Eternal Limited. On the app front, however, the name Zomato will be maintained, but in the case of the stock ticker, the stock ticker will change from Zomato to Eternal. Under its new visual identity, Eternal will be split into four core businesses: Zomato, Blinkit, Distrikt, and Hyperpure.
Eternal is a bold, challenging name, powerful with a sense of irony and myth – therefore in Mr. Goyal’s words the name captures trust but in contradiction, an eternal combination which Goyal has emphasized. He referred to the new branding as a mission statement, not just a name change. In its Jan. 20 letter to shareholders, the company said it continued to see strong demand through the beginning of the quarter before starting to “difficulty due to the impact of a broad macroeconomic downturn starting the second week of November.”
Zomato’s consolidated profit after tax (PAT) dropped 57% year over year to ₹59 crore in Q3FY25, compared to ₹138 crore in the same quarter last year. On the other hand, the company’s revenue grew 64% to ₹5404 crore from ₹3288 crore a year ago and ₹4799 crore last quarter. The name change was cleared by the board, and all that is left is getting it approved by shareholders.
How do you like the new name of Zomato, and what is your take on their strategic direction?