Zomato, while faring decently at the time of its Indian stock market debut, hasn’t had it easy ever since. The company hasn’t reported any profits — pretty much similar to most other ‘unicorn’ listings in recent times — and investors are concerned if there is even a plan to profitability in near future. To top it all, the company acquired Blinkit in a deal that was controversial on many fronts and has not made much business senses.
In the midst of all of this, the company finally seems to be showing some signs of a plan, that involves it becoming a long lasting, ‘eternal’ business. A new note, accessed by MoneyControl, suggests that Zomato will soon rebrand to a new parent, called ‘Eternal’. This new parent will house all of its businesses as separate entities, with each having its own CEO and other senior leadership.
The branding however, is expected to remain internal at the moment.
“We are at a stage of life where we are maturing from running (more or less) a single business to now running multiple large companies,” Deepinder Goyal, CEO and MD of Zomato, wrote on the company’s slack channel.
“We are transitioning from a company where I was the CEO to a place where we will have multiple CEOs running each of our businesses (Eg: Zomato, Blinkit, Hyperpure, Feeding India), all acting as peers to each other and working as a super-team with each other toward building a single large and seamless organisation,” he adds.
“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,” he wrote in the message on July 28.
The name and new parent branding, will remain internal for now. “You should start seeing the Eternal logo at a few places in our office. As well as some t-shirt (s) on yourself in a few days from now,” he wrote.