Highlights

  • On a week-on-week basis, Zomato shares ended over 12% lower
  • Zomato listed in July last year at INR 115 and INR 116 per share

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Zomato to be 'Eternal' ?

Goyal explained that Eternal is a mission statement in itself, as it means forever, something that will last for more than just a few lifetimes.

Days after the online food delivery giant Zomato's shares hit all-time low, the company's founder and CEO, Deepinder Goyal forms an umbrella organisation to make bigger plans.

Deepinder Goyal has announced a new structure for the company that will see its businesses like Zomato, Blinkit and Hyperpure run by different CEOs under one umbrella organisation called 'Eternal'.

According to reports by moneycontrol, Goyal said ''We are now at a stage of life where we are maturing from running (more or less) a single business to running multiple large companies. 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 , all acting as peers to each other, and working as a super team with each other towards building a single large and seamless organisation. Starting today, we are going to call this larger organisation 'Eternal',"

Zomato hits all-time low

The company is going to call this larger organisation "Eternal", at a time when Zomato's stock gets hammered on Dalal Street.

According to report, the new branding has been acknowledged by the company employees, with the "Eternal" logo now being placed at the company's premises and merchandise like t-shirts.

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