Deepinder Goyal reveals what he did right to make Zomato profitable, claims company is now going after larger share of...

Zomato is going through a major transformation. The company now operates under a new name—Eternal—and has adopted a fresh structure. After turning profitable in FY24, it has managed to stay in the green. This marks a sharp turnaround from 2022, when Zomato’s $569 million acquisition of quick commerce company Blinkit was met with skepticism. The deal dragged the stock down by a third from its listing price. But the gamble paid off—Blinkit is now one of Zomato’s most exciting growth drivers.

Zomato’s journey since its listing in July 2021 has been anything but smooth. The stock, initially priced at Rs 76, once fell to Rs 47, only to climb back to Rs 202 in March 2025, peaking above Rs 300 in late 2024. Despite the ups and downs, Deepinder Goyal views the listing as a positive step that enables long-term planning, according to a Business Today report.

Zomato is now more than a food delivery company. Blinkit, backed by Zomato’s strong consumer insights, is scaling fast. With small, smartly stocked dark stores, it’s tapping into a market expected to grow from $6 billion to $40 billion by 2030.

Analysts believe Zomato has made a successful shift to a multi-business company.

Importantly, Blinkit and Hyperpure are run by experienced founders, bringing focus to each unit. Zomato plans to add 1,000 new Blinkit stores in 2025, although rapid expansion could affect short-term profits, according to the report. 

Zomato is now going after a larger share of consumer spending. In December, it launched “District,” an app combining dining with events like movies and live shows. This move followed its Rs 2,048 crore acquisition of Paytm’s ticketing business. Deepinder Goyal believes this space, though small now, will grow significantly in 3–5 years.

With Goyal’s hunger for innovation and a laser focus on customer needs, Zomato—now Eternal—is entering an action-packed new chapter.