Will Zomato app now be called ETERNAL? Truth about CEO Deepinder Goyal's surprise announcement here
Zomato CEO Goyal clarified that while the corporate entity will adopt the new name to reflect its growing portfolio—which includes Blinkit, Hyperpure, and District—the Zomato app and brand will remain unchanged.
FollowZomato has announced a major rebranding move that left many wondering if the popular food delivery app would get a new name. CEO Deepinder Goyal revealed on Thursday that the parent company, Zomato Ltd., will be renamed Eternal Ltd., sparking confusion about whether the app itself would undergo a similar change.
However, Goyal clarified that while the corporate entity will adopt the new name to reflect its growing portfolio—which includes Blinkit, Hyperpure, and District—the Zomato app and brand will remain unchanged. The rebranding signals the company's long-term vision but won’t affect the familiar Zomato experience for its users.
His letter to stakeholders read, "When we acquired Blinkit, we started using “Eternal” (instead of Zomato) internally to distinguish between the company and the brand/app. We also thought that we would publicly rename the company to Eternal, the day something beyond Zomato became a signicant driver of our future. Today, with Blinkit, I feel we are there. We would like to rename Zomato Ltd., the company (not the brand/app), to Eternal Ltd."
Zomato's current market value
The company’s market value has surged following the announcement, reflecting strong investor confidence and the firm’s expanding business footprint. As of February 6, 2025, Zomato's market cap was recorded at ₹2,21,668.55 crore.
Zomato's market capitalization has now surpassed that of Coal India, reflecting its strong position in the food delivery and quick commerce sectors. Analysts at Morgan Stanley have projected that Zomato will maintain around 40% market share in the quick commerce industry, which is expected to grow from $6.8 billion by the end of 2025 to a staggering $42 billion by 2030.
Zomato's subsidiary, Blink Commerce, has also expanded its offerings with the launch of the Bistro app, focusing on convenience food delivery. Financially, Zomato reported a 64% year-on-year revenue growth, crossing ₹5,000 crore, though its net profit fell by 57% to ₹59 crore.
Zomato’s market capitalization now places it among the top 30 companies listed on the Bombay Stock Exchange. The inclusion in the Sensex is a testament to Zomato’s financial performance and a reflection of the growing influence of tech startups in India's traditional markets.
Deepinder Goyal's letter to shareholders
In a letter to shareholders, Zomato founder Goyal reflected on the company's journey from its humble beginnings as Foodiebay to becoming a household name. He emphasized that the company’s success was driven not just by financial goals but by a commitment to creating value for its employees, partners, and the broader community. The company has generated considerable wealth for its stakeholders, including institutional investors and retail shareholders.
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