Organization structure

Zomato Plans New “Eternal” Parent Organization With Multi-CEO Structure


Zomato Plans New “Eternal” Parent Organization With Multi-CEO Structure

August 01, 2022, 12:56 p.m.
2 minute read

Zomato wants to model its business on the model of its main shareholder Info Edge

Zomato is internally renaming itself “Eternal” and plans to have separate CEOs for each of its companies.

The move was reportedly announced by founder and CEO Deepinder Goyal in a note on the company’s Slack channel last week.

This indicates that the company wants to take inspiration from Info Edge, which is one of its earliest investors and major shareholders.

Why is this story important?

  • Zomato wants to become a group company with a diversified range of activities, ranging from food delivery to logistics.
  • However, its shares have come under intense selling pressure, and it’s also unclear whether the company will convert to Eternal.
  • As the business grew, it became essential for her to have different staff in charge of different companies.

Multiple CEOs will work as peers

Goyal outlined how the business will operate in his post.

“We are moving from a company where I was the CEO to a place where we will have multiple CEOs leading each of our companies, all acting as peers to each other.”

He also said the top bosses will work as a team to build a “single, big, and transparent organization” called Eternal.

Eternal is also a mission statement

Goyal also claimed that Eternal itself is a mission statement. He described it as “unlimited, timeless, eternal, endless and permanent”.

Eternal would include several companies, including Zomato (delivery and catering), Feeding India, Blinkit and Hyperpure.

Although Eternal is now an internal name, its logo will soon be seen on corporate offices and accessories such as t-shirts, Goyal said.

A Look at Zomato’s Recent Investments

Zomato recently bought grocery delivery startup Blinkit for $570 million.

It has made six investments worth around $200 million in the past year, including $75 million in Shiprocket and $50 million each in cure.fit (now called cult.fit) and Magicpin.

He also invested $15 million in adtech company Adonmo, $5 million in food robotics company Mukunda and $5 million in restaurant software company UrbanPiper.