As food delivery giant Zomato announced its decision to rebrand its parent company to Eternal Ltd., netizens flooded social media with memes and jokes, prompting the company to issue a clarification.

Zomato CEO Deepinder Goyal, in his letter to shareholders, revealed the reason behind changing the company’s name to ‘Eternal.’ Shares closed lower ahead of announcement on Thursday.

Zomato is rebranding to Eternal Ltd. pending shareholder approval. This change involves updating the companys name, website, and stock ticker symbol. Eternal Ltd. will serve as the parent entity for Zomato,

Deepinder mentioned that out of over 18,000 applications, 30 exceptional candidates received offers, and 18 have already joined Zomato in high-impact roles.

Despite the name change, the Zomato app will continue to operate under its existing name. However, the company’s stock ticker will now be updated from Zomato to Eternal.

Signalling a strategic shift away from its wildly popular food delivery business, Zomato announced its parent company name changed to Eternal Ltd. on Friday. Confirming the development to Mint, Chief Executive Deepinder Goyal said on 6 February,

Eternal is not a new name that Zomato had adopted suddenly, instead they first used the name when the company acquired quick-services application, Blinkit.

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Zomato has announced a major rebranding move that left many wondering if the popular food delivery app would get a new name. CEO Deepinder Goyal revealed on Thursday that the parent company, Zomato Ltd.