“I am as excited about continuing to build Zomato as I ever was, if not more. I believe that Zomato is my life’s work, and the hardest (and the most fulfilling) part of the journey is still ahead of me. This announcement does not change anybody’s roles and responsibilities (including and particularly mine) at Zomato,”
the CEO said in the letter to the exchanges.
ETtech had reported on August 1 that Zomato was internally rebranding itself into “Eternal” – a larger organisation to house multiple businesses, each with its CEOs, according to an internal communication reviewed by ET.
“The word Eternal is a mission statement in itself. Eternal means forever, something that will last for more than just a few lifetimes. Boundless, timeless, undying, endless, permanent – are some of the other words that can be used to describe Eternal,” Goyal had written in his message on July 28.
In his letter to the exchanges on Monday, Goyal also clarified the reasons for this rebranding.
“We didn’t want the Blinkit team to feel like a step-child once we completed the transaction. We needed to make sure that both Zomato and Blinkit were placed at par within the important hierarchy of our daily work lives,” he said.
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He said Eternal remains an internal identity and is currently only a notion to bind all of Zomato’s different businesses and leaders under a common name and a mission.
“There is no plan whatsoever to rebrand the Zomato app to Eternal,” he clarified.
The Gurugram-based firm has seen topsy-turvy months
following the acquisition of hyperlocal delivery startup Blinkit for about $570 million in an all-stock deal.
Subsequently, Zomato’s
share witnessed massive volatility as it plunged to record lows, drawing disparate commentaries from fund houses and investment gurus.
