Zomato Limited

Eternal Limited (formerly Zomato Limited) is an Indian multinational technology company. It is the parent company of Zomato, Blinkit, District and Hyperpure.

History

On 18 January 2010, Deepinder Goyal and Pankaj Chaddah incorporated DC Foodiebay Online Services Pvt Ltd. The company operated Foodiebay, a restaurant-listing-and-recommendation website they had started in 2008 while working for Bain & Company. They later renamed the website Zomato as they were unsure if they would "just stick to food" and to avoid a potential naming conflict with eBay.

In 2011, Zomato expanded its restaurant discovery and local search services across various cities in India. From 2012, it expanded internationally, and was operating in 21 countries by early 2015.

In July 2014, the company made its first acquisition by buying New Zealand-based MenuMania. The company pursued other acquisitions including lunchtime.cz and obedovat.sk for a combined 3.25 million, followed by Poland-based restaurant search service Gastronauci and Italian restaurant search service Cibando.

In January 2015, it acquired Seattle-based food portal, Urbanspoon, for an estimated US$60 million. Later that year, it acquired Turkish company Mekanist in an all-cash deal.

In March 2015, Zomato started its food delivery service in India, initially partnering with hyperlocal logistics companies such as Delhivery, Grab and Runnr to fulfill deliveries from restaurants that did not have their own delivery service. The company's subsequent acquisitions such as the Delhi-based startup MapleGraph that built MaplePOS (renamed Zomato Base), table reservation and restaurant management platform NexTable (renamed Zomato Book), and Gurgaon-based logistics technology startup Sparse Labs (renamed Zomato Trace) were integrated with Zomato. In 2017, it acquired the delivery startup Runnr.

In 2017, the firm announced the launch of Zomato Infrastructure Services, a cloud kitchen infrastructure service to help partner restaurants expand their presence without incurring any fixed costs. In 2018, the company shut down operations of Zomato Infrastructure Services. The company then acquired WOTU and rebranded it as Hyperpure to supply food ingredients such as grains, vegetables and meat to restaurants from its warehouses.

In September 2018, it acquired Bengaluru-based food e-marketplace, TongueStun Food, for about US$18 million in a cash and stock deal. In December 2018, it acquired a Lucknow-based drone startup, TechEagle Innovations for an undisclosed amount, aiming to start drone-based food delivery in India using a hub-to-hub delivery network.

In December 2018, it launched its annual multi-city food and entertainment carnival called Zomaland.

In January 2020, the company acquired Uber Eats' India business in an all-stock deal, giving Uber a 9.99% stake in the company.

In July 2021, the company went public, opening its initial public offering at a valuation of over 8 billion. In November 2021, it acquired a 16% stake in hyperlocal e-commerce company Magicpin, 8% stake in logistics company Shiprocket and a 6.4% stake in fitness startup CureFit.

In June 2022, the company announced the acquisition of quick-commerce company Blinkit for 568 million.

In October 2023, the company started offering hyperlocal package delivery service on a new app called Xtreme. The service was shut down in July 2024.

In August 2024, it acquired Paytm's event ticketing subsidiaries Wasteland Entertainment Private Limited (WEPL) and Orbgen Technologies Private Limited (OTPL) for $244.2 million. In November 2024, the company launched its events and ticketing app called "District" after consolidating WEPL and OTPL.

In February 2025, Zomato Limited was renamed as Eternal Limited.

Funding

* 2010–2013: It raised approximately from Info Edge across four rounds; Info Edge held a 57.9% stake in Eternal Limited in February 2013. In November 2013, Eternal Limited raised 37 million from Sequoia Capital and Info Edge.
* November 2014: It completed another round of funding of 60 million at a post-money valuation of ~US$660 million. This round of funding was being led jointly by Info Edge and Vy Capital, with participation from Sequoia Capital.
* April 2015: Info Edge, Vy Capital and Sequoia Capital led another round of funding for 50 million. This was followed by another 60 million funding led by Temasek, a Singapore government-owned investment company, along with Vy Capital in September.
* February 2018: It became a unicorn startup after raising 200 million from Ant Financial at a valuation of 1.1 billion. In October 2018, It reported that it would raise an additional $210 million from Ant Financial at a valuation of around $2 billion.
* September 2020: It raised $62 million from Temasek, after previously committed investment from Ant Financial did not come through. In October 2020, as part of a Series J round of funding, Zomato raised $52 million from Kora, a US-based investment firm.
* February 2021: It raised 250 million from five investors, including Tiger Global Management, at a valuation of 5.4 billion.

References

External links

* {{Official website, eternal.com

Indian companies established in 2010
2010 establishments in Haryana
Companies based in Gurgaon
2021 initial public offerings
Companies listed on the Bombay Stock Exchange
Companies listed on the National Stock Exchange of India
BSE SENSEX
NIFTY 50