The food delivery startup Zomato, which went public last year, is appointing chief executive officers to manage its core business units and aims to rename itself Eternal Ltd.
Deepinder Goyal, the founder and CEO of Zomato, which is funded by Ant Group Co., Temasek Holdings Pte., and Goldman Sachs Group Inc., said that it will appoint CEOs to at least four businesses following the acquisition of grocery delivery service Blinkit.
“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 (e.g. Zomato, Blinkit, Hyperpure, Feeding India), all acting as peers to each other, and working as a super-team with each other towards building a single large and seamless organisation,” Goyal wrote in a note shared with employees.
The company's emails and workspaces will take on the Eternal name, and Singh said he believes that one day instant grocery will overtake the food delivery business. "We will change our company's name to Eternal Ltd. and also change our stock ticker to ETERNAL," he added in the note.