Deepinder Goyal, the co-founder of Zomato and CEO of its parent company Eternal, has announced a significant leadership change. Goyal is stepping down from his role, passing the reins to Albinder Dhindsa, the CEO of Blinkit, Eternal’s quick-commerce division. This move comes as quick commerce gains momentum in the market.
Goyal emphasized that he will continue to serve on Eternal’s board as vice chairman, redirecting his focus towards ‘higher-risk exploration and experimentation.’ He views this transition as an opportunity to pursue ventures that might be challenging within the confines of a publicly listed company.
The transition reflects Goyal’s long-standing commitment to Eternal, which he considers his life’s work. Zomato, initially founded as a restaurant discovery platform in 2008, evolved into a food delivery service in 2015. Over the years, the company has made strategic acquisitions, including the purchase of Uber Eats’ India operations and Blinkit (formerly Grofers).
Notably, Blinkit has emerged as Eternal’s fastest-growing segment, with a substantial increase in net order value. The company reported robust financial performance in the third quarter, with a significant rise in profits and adjusted revenue.
This leadership change underscores the dynamic nature of the quick commerce sector and signals Eternal’s strategic pivot to capitalize on evolving market trends.
Source: TechCrunch