Zomato CEO Deepinder Goyal, in his letter to shareholders, revealed the reason behind changing the company’s name to ‘Eternal.’ Shares closed lower ahead of announcement on Thursday.

Deepinder Goyal has rebranded Zomato as Eternal Ltd. and changed its stock ticker to ETERNAL. The company now focuses on four verticals: food delivery, quick commerce, B2B restaurant supplies, and a new undisclosed venture.

Eternal is not a new name that Zomato had adopted suddenly, instead they first used the name when the company acquired quick-services application, Blinkit.

Zomato, the food delivery company, will no longer be called by the same name, as the company’s board has approved the change in the name (Zomato’s name change), according to its CEO Deepinder Goyal.

CEO Goyal in a letter to shareholders said that his team started referring to Zomato as 'Eternal' after acquiring it. "Zomato is an accidental company. It was born out of a simple desire to serve, and over time, it became a business. And the journey has been nothing short of extraordinary," excerpts from his letter read.

MUMBAI: It’s official! Zomato, the brand that revolutionised food delivery in India, is stepping into a new era under the corporate name Eternal Ltd. Founder & CEO Deepinder Goyal has revealed this strategic transformation,

Zomato Ltd has changed its company name to Eternal Ltd, Co-founder and CEO Deepinder Goyal shared in a statement on X.

Deepinder mentioned that out of over 18,000 applications, 30 exceptional candidates received offers, and 18 have already joined Zomato in high-impact roles.

Zomato 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.