Zomato Name Change : The country’s leading food delivery company Zomato has decided to change its name. The decision to change the name has been sealed in the board meeting of Zomato. Zomatou will now be known as Eternal (Eternal). The company has given a regulatory filing to BSE in this knowledge.
Why did Zomato change its name?
Zomato CEO Deepinder Goel says they were using the term Eternal. “He said, “”When we bought Blinkit, that’s why we credit our parent company as Zomato for Eternal.” The aim is to differentiate between the company and the brand/app.
The founder of Zomato thought at the time that if Zomato or anything else besides us was important to our future, we would publicly name the company Eternal. Now the success of Blinkit has brought us to that point. We are renaming Zomato Ltd, the company (not the brand and the app) to Eternal.
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Deepinder Goel also gave the name due to the reason. Eternal is a powerful name. And to be honest, it scares me to the inside. It is a very difficult task to live up to. Because ‘Eternal’ is reconciling both a promise and a contradiction.
“It’s not just a name change; it’s a mission statement,”” he said.” This name is now part of our identity, always reminding us of our motive.”
Will the name of the company be share market?
The real impact of changing the name of Zomato will be seen in the market. The name of the company will change to Eternalise from Zomato. It will represent all the subsidiary companies of Zomato. Zomato has four major businesses so far.
The first of these is food delivery platform Zomato itself. Another quick commerce is Blinkit, which delivers groceries and other essentials. Its district platform works for movie and event tickets. At the same time, the Hyperpure platform has vocalised wholesale prices for vegetables and groceries.
Zomato stock closed at Rs 229.90, up 0.53 per cent today. In the last one year, the company has given around 65 per cent returns.
