Deepinder Goyal, co-founder and CEO of food delivery platform Zomato and its parent company Eternal, is stepping down from his role and transferring leadership to Albinder Dhindsa, the CEO of Eternal’s quick-commerce arm, Blinkit.
Goyal will continue to serve on Eternal’s board as vice chairman, shifting his attention to what he describes as “advanced-risk research and experimentation”—work he believes is difficult to pursue within the limitations of a publicly listed company.
“This is a change in designation, not a reduction in commitment,” Goyal said in a letter to shareholders. “Eternal continues to be my life’s work.”
Goyal co-founded Zomato alongside Pankaj Chaddah in 2008 as a restaurant discovery and review platform called FoodieBay while both were employed at Bain & Company. The duo left their jobs the following year to focus on the venture full-time and rebranded it as Zomato in 2010 after a naming dispute with eBay. The company later entered the food delivery space in 2015.
Chaddah exited the business in 2018. Zomato further strengthened its position in the Indian market by acquiring Uber Eats’ India operations in 2020, followed by the purchase of Blinkit (formerly Grofers) for $568 million in 2022.
The leadership transition comes at a time of strong financial momentum for Eternal. In the third quarter, the company reported a nearly 73% year-over-year increase in profit to ₹1.02 billion (approximately $11.13 million), supported by adjusted revenue of ₹166.92 billion (around $1.8 billion), marking a 190% rise from the previous year. Blinkit remained Eternal’s fastest-growing segment, with net order value surging 121% to ₹133 billion (roughly $1.45 billion).
Beyond Eternal, Goyal has been exploring other ventures, including a longevity-focused initiative called Continue Research and an experimental brain-health wearable known as “Temple.” He is also a co-founder of aerospace startup LAT Aerospace and an active angel investor.
The transition signals Blinkit’s growing influence within Eternal, as the company’s overall growth is increasingly driven by quick commerce rather than its traditional food delivery business.
Quick commerce in India continues to expand rapidly, even as the sector faces heightened scrutiny over gig worker conditions. Recently, India’s labor ministry urged companies to move away from “10-minute delivery” marketing claims and implement measures to improve working conditions for delivery personnel.
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