The rebranding reflects the company’s broader business scope beyond its flagship food delivery service.
(File Photo: IANS)
Online food delivery app, Zomato, has officially changed its corporate name to Eternal Ltd, the company said in an exchange filing.
“When we acquired Blinkit, we started using ‘Eternal’ internally to distinguish between the company and the brand/app. We also thought we would publicly rename the company to Eternal the day something beyond Zomato became a significant driver of our future. Today, with Blinkit, I feel we are there,” Deepinder Goyal, Group CEO and Co-founder of Zomato, said in a letter to the BSE.
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The rebranding reflects the company’s broader business scope beyond its flagship food delivery service.
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While the Zomato app will retain its name, the company’s stock ticker will be updated from ‘Zomato’ to ‘Eternal’.
The rebranded Eternal Ltd will now oversee four key businesses including Zomato – Food delivery and restaurant discovery; Blinkit – Quick-commerce platform; Hyperpure – B2B supplies for restaurants; and District – Logistics business.
According to the company’s recently announced results, Zomato’s online food delivery business revenue rose 21.5% to ₹2,072 crore in the October to December quarter results, compared YoY with ₹1,704 crore in the same period the previous year.
Company’s total expenses for the October to December quarter rose 63.55% to ₹5,533 crore, compared year-on-year with ₹3,383 crore in the previous year.
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