According to Moneycontrol, it seems like Zomato wants to be called Eternal (at least internally). When Zomato’s internal rebranding plan became public, its shares soared by over 15% within an hour of the stock markets opening the next day. Now, granted Zomato also released its results right around the same time and they were pretty decent overall.
Zomato has also been making investments in multiple other entities. With a war chest of $1 billion, it has already invested in food robotics company Mukunda, digital advertising company Adonmo, fitness platform Curefit, hyperlocal discovery business Magicpin, and logistics firm Shiprocket. Not to forget the acquisition of Blinkit (formerly Grofers) for grocery delivery.
Even internally, Zomato has bet on projects that may raise eyebrows — a video streaming platform, a foray into selling Nutraceuticals like whey protein. It even has plans to enter financial services and launch its own Buy Now Pay Later Product (we’ve written about it earlier).
This plays well into Zomato’s strategy of being more than just a food delivery app.
