“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.
ET has reviewed the copy of the message.
“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 informed.
Goyal said the company would call this larger organisation “Eternal”.
“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.
Discover the stories of your interest
The chief executive of the Gurugram-based startup added Eternal will remain an internal name 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.
Zomato’s stock had nosedived after the mandatory lock-in period for pre-IPO shareholders expired. Overall, the stock has declined by over 70% from its all-time high of Rs 169.10 on November 16, 2021.