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Zomato’s Corporate Name Change Announcement: On Thursday, Zomato Ltd. revealed its decision to change the corporate name to Eternal Ltd. The company clarified that this change would only affect the official corporate identity, not the popular Zomato brand or its app. The Zomato brand, which is widely known in the food delivery space, will continue to operate under its original name.
Explanation by CEO Deepinder Goyal: Deepinder Goyal, the Founder and CEO of Zomato, addressed the name change by explaining that the decision was made to better represent the company’s evolving business model. The new name Eternal Ltd. will not impact the brand identities of its core businesses, including Zomato. The company also announced that the stock ticker would change from "ZOMATO" to "ETERNAL" and that its corporate website would transition from zomato.com to eternal.com.
Business Expansion Beyond Zomato: The shift to the name Eternal represents the company’s growth beyond its original business of food delivery. Eternal Ltd. will encompass several diverse businesses, including Zomato, Blinkit (a quick-commerce platform), District, and Hyperpure. The company began using the name “Eternal” internally after acquiring Blinkit in 2022, signaling its expansion into other sectors beyond food delivery services.
Reason Behind the Timing of the Name Change: The timing of this rebranding is significant. According to Goyal, the company felt that the name change to Eternal was necessary when it reached a point where Blinkit and other ventures were contributing significantly to the company's future. As these businesses grew, Zomato realized it needed a corporate name that reflected its broader business scope and not just the food delivery platform.
Approval Process for Name Change: While the name change to Eternal Ltd. has been announced, the company emphasized that it is still subject to approval by shareholders, as well as approval from the Ministry of Corporate Affairs and other statutory bodies. Deepinder Goyal also asked shareholders to support the name change, highlighting that it is in line with the company’s forward-looking growth strategy.
Corporate Rebranding Strategy: This name change reflects a broader strategy commonly seen in the corporate world when companies expand into multiple business sectors. By separating the corporate identity from its individual brands, the company can manage its various businesses more efficiently. A new corporate name helps to clarify the company’s overall structure, making it easier to attract investment and manage operations across different business lines.
Similar Corporate Rebranding Examples: Zomato’s decision to change its corporate name is not unique. Info Edge (India) Ltd. provides a similar example, where it retained its name while operating popular brands such as Naukri, Jeevansathi, and 99acres. On a global scale, well-known technology giants like Google and Facebook have used this strategy. Google rebranded its parent company as Alphabet Inc. in 2015 to reflect its diversification into various business areas. Similarly, Facebook became Meta in 2021 to align with its shift towards the metaverse and other digital initiatives. These moves highlight a trend among successful companies that manage diverse business interests under a single corporate entity name.
