Meals big Zomato has introduced that it’s going to rename the corporate to ‘Everlasting’ and introduce a brand new emblem, a shift that follows over two years of inside use of the title.
In a letter to shareholders, CEO Deepinder Goyal acknowledged that the board has authorized the change and sought shareholder help. If authorized, the company web site will transfer from zomato.com to everlasting.com, and the inventory ticker will swap from Zomato to Everlasting. Everlasting will embody 4 key companies—Zomato, Blinkit, District, and Hyperpure.
Goyal reminisced about Zomato’s evolution from Foodiebay, a change that passed off 17 years after the corporate’s founding in 2007. He highlighted Zomato’s milestone achievement as the primary Indian startup to be included within the BSE Sensex on December 23 final 12 months.
Reflecting on the journey, Goyal famous that whereas Zomato has generated important wealth for workers, institutional buyers, and retail shareholders, his motivation was by no means about cash. “I began Zomato as a result of I needed to do one thing worthwhile with my life. One weekend, I went round city, collected takeaway menus, and uploaded them onto a web site—purely within the spirit of service. I by no means thought it may very well be a enterprise. I wasn’t searching for income, simply attempting to be useful,” he shared in his letter.
He additionally revealed that Zomato started utilizing the title ‘Everlasting’ internally after buying Blinkit to distinguish the corporate from its model and app.
“We had all the time deliberate to publicly rename the corporate to Everlasting as soon as one thing past Zomato turned a big driver of our future,” he wrote. “As we speak, with Blinkit, I really feel we’re there.”
Goyal emphasised that the change applies to the corporate, not the Zomato model or app. “Everlasting is a strong title, and to be sincere, it scares me to my core. It’s a tall order to dwell as much as as a result of ‘Everlasting’ carries each a promise and a paradox. True permanence isn’t constructed on daring claims of invincibility or the swagger of success,” he added.
Written with the View : afaqs