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Eternal appoints Aditya Mangla as CEO of food delivery business
YourStory
·
1m ago
Medial
Eternal appointed Aditya Mangla as CEO of its food delivery business at Zomato, replacing Rakesh Ranjan. Ranjan stepped down after a two-year tenure but will remain with the company. Mangla, with over four years at Zomato, previously led product, supply, and customer experience for the food delivery arm. This leadership change is part of an internal reshuffle aiming for fresh perspectives amid a slowdown in Zomato's growth, attributed to reduced demand and increased competition.
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Zomato hires new CEO for food delivery business; Goyal says, 'We need leaders who believe...'
IndianStartupNews
·
1m ago
Medial
Zomato has appointed Aditya Mangla as CEO of its food ordering and delivery business, effective for a two-year term following the tenure of Rakesh Ranjan. Mangla, who joined Zomato in 2021, has held significant roles such as head of supply, customer experience, and product for the food delivery vertical. His leadership comes amid a slowdown in growth, with the segment's year-on-year growth dipping below 20%. Mangla aims to guide the company through its next chapter.
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Daily Indian Funding Roundup & Key News – 7 July 2025
StartupTalky
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1m ago
Medial
On 7 July 2025, notable developments in Indian business included Khetika securing $18 million for expansion, BigBasket appointing Manish Bajoria as CFO, and Jio-BlackRock raising INR 17,800 crore in its mutual fund debut. InPrime Finserv, WiseLife, Divine Hindu, and AMAMA also secured funding for various expansion endeavors. Additionally, Square Yards announced an INR 2,000 crore IPO, Incuspaze acquired VSKOUT, and the Bombay High Court quashed a GST demand against Go Digit. Eternal appointed Aditya Mangla as its food delivery CEO.
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Eternal bets big on Blinkit as food delivery biz shows signs of slowdown
Entrackr
·
17d ago
Medial
Eternal bets big on Blinkit as food delivery biz shows signs of slowdown Eternal Ltd. (formerly Zomato) posted a strong Q1 FY26 with revenue surging 70% year-on-year to Rs 7,167 crore. However, growth in its core food delivery business appears to be flattening, with momentum now coming from newer verticals such as Blinkit and Hyperpure. The food delivery segment, once synonymous with Zomato, is beginning to show signs of maturity. Revenue from food grew just 16% year-on-year to Rs 2,261 crore, while Net Order Value (NOV) rose 13%, a slight dip from 14% in the previous quarter. Eternal’s chief executive officer (CEO) Deepinder Goyal acknowledged that “20%+ growth looks unlikely this year,” hinting that the post-COVID boom in food delivery may be tapering off as the business enters a slower growth phase. In contrast, quick commerce is rewriting Eternal’s growth story. Blinkit clocked a 127% YoY jump in NOV and a 154% spike in revenue to Rs 2,400 crore, overtaking food delivery for the first time on a full-quarter basis. The 10-minute delivery app now has 1,544 stores (243 added in Q1 alone) and plans to cross 2,000 by December. So, is India’s food delivery market reaching a saturation point? Goyal doesn’t explicitly say so, but signals are clear: while margins in food delivery are stable (5% of NOV), growth is slowing, and further upside is likely to come from operational efficiencies or adjacent offerings, not explosive user demand. Meanwhile, Blinkit is scaling rapidly, not just in metros, but even in smaller cities where profitability gaps are narrowing. “Margins seem to have bottomed out,” said Blinkit CEO Albinder Dhindsa, adding that select cities are already profitable. The business now has a strong line of sight to 5–6% margin in the long term, according to him. Interestingly, Eternal is now extending its “10-minute promise” to meals with its initiative called Bistro. The service currently runs 38 cloud kitchens across Delhi-NCR and Bengaluru, offering ‘high-quality yet affordable food’ in just 10 minutes. The company sees Bistro as a way to tap into unmet demand, particularly among users seeking low-cost, quick meals or snacky options, a segment it believes traditional food delivery players haven't fully addressed. Hyperpure, Eternal’s B2B restaurant supply business, also had a standout quarter with 89% YoY revenue growth. However, this growth may soften in upcoming quarters as Blinkit transitions from a marketplace to an inventory-led model, reducing Hyperpure’s exposure to non-restaurant clients. To navigate this shift, Eternal is also evolving its leadership structure. With the appointment of product leader Aditya Mangla as food delivery CEO, the company is doubling down on tech-first execution. Goyal calls this “rotational leadership”, a system meant to keep decision-making fresh and avoid long-term stagnation at the top. As Goyal puts it, “We want to build companies led by principles, not personalities.” The principle now seems clear: grow where the consumer moves fastest, and that’s not always dinner delivery. While churn has become a perennial feature at Eternal, both in terms of initiatives and even people, the firm continues to be valued (ridiculously so, many would say) highly for potential upsides on its other initiatives like District etc. However, the grocery business as the growth driver comes with its own challenges on the margin front, as seen in the profit shrinkage this quarter. Patient investors might also feel tested if they don't see either of two things in FY26: profitability in the delivery and grocery business, however low the margins, and a breakout in any of the remaining verticals like seen in Hyperpure.
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Eternal denies reports of Rakesh Ranjan's departure as food delivery head
YourStory
·
3m ago
Medial
Eternal, previously known as Zomato, refuted reports of CEO Rakesh Ranjan's departure amid rumors of internal reorganization. While media speculated that Co-founder Deepinder Goyal might become interim CEO, Eternal confirmed Ranjan hadn't resigned. Ranjan, with the company for over seven years, took on the CEO role for food delivery after leading Hyperpure. This news surfaces as the food delivery sector, dominated by Swiggy and Zomato, faces a slowdown in demand and customer acquisition challenges.
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Food delivery CEO Rakesh Ranjan still part of leadership team: Eternal
Economic Times
·
3m ago
Medial
Eternal, formerly known as Zomato, clarified that food delivery CEO Rakesh Ranjan hasn't resigned, countering media reports. The company stated that internal leadership reshuffling is standard practice to enhance organizational effectiveness. Eternal recently changed its official name but retains the brand name Zomato for its food delivery services. The regulatory clarification affirms Ranjan's ongoing role despite leadership adjustments.
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No obvious threat, says Eternal CEO Goyal on new entrants in food delivery space - The Economic Times
Economic Times
·
18d ago
Medial
Eternal CEO Deepinder Goyal isn't concerned about new entrants like Rapido entering the food delivery space, as he believes there's no current innovation posing an "obvious threat." Rapido plans to launch its food delivery app, Ownly, in Bengaluru, charging lower commissions compared to competitors like Zomato and Swiggy. Eternal is expanding with a new subsidiary, Blinkit Foods, while Swiggy introduces the ‘99 store’ amidst rising competition and slow demand in the food delivery segment.
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Sluggish demand, gig worker churn, q-comm competition behind slowdown in food delivery, says Deepinder Goyal
Economic Times
·
3m ago
Medial
Deepinder Goyal, CEO of Zomato parent Eternal, cites sluggish demand, a shortage of delivery workers, and competition from quick commerce as reasons for a slowdown in food delivery. Despite a 16% year-on-year rise in gross order value to Rs 9,778 crore, a 1% sequential dip was noted. Eternal also delisted 19,000 restaurants for quality issues. The company underwent leadership reshuffling for fresh perspectives, with Goyal overseeing food delivery temporarily after Rakesh Ranjan's role change.
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Zomato food delivery CEO steps down; Deepinder Goyal to take charge
Times Now
·
3m ago
Medial
Rakesh Ranjan, the CEO of food delivery at Zomato's parent company Eternal, is stepping down. Elevated to the role in May 2023, Ranjan's exit occurs as the company faces a dip in its food delivery market share. Deepinder Goyal will temporarily oversee operations during the internal reshuffle until a new CEO is appointed. The move follows a slowdown in the food delivery sector. External and internal candidates are being considered for the position.
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Food delivery giant Zomato gets government nod for name change to Eternal Ltd
Economic Times
·
4m ago
Medial
Zomato, led by Deepinder Goyal, has received approval from the Ministry of Corporate Affairs to change its name to Eternal Limited, effective March 20, 2025. The name change follows shareholder approval and reflects the company's diversification beyond food delivery into areas such as quick commerce, B2B food supply, and dining/events. Alongside the rebranding, Zomato will update its corporate website to eternal.com and its stock ticker to ETERNAL, marking a significant transition in its business model.
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Eternal’s Food Delivery COO Rinshul Chandra resigns
Entrackr
·
4m ago
Medial
Eternal’s Food Delivery COO Rinshul Chandra resigns Eternal Limited (Zomato) has announced the resignation of Rinshul Chandra, Chief Operating Officer of its Food Ordering and Delivery business. Chandra, a key member of the company’s senior management, tendered his resignation on April 5 and will officially step down on April 7. According to the company’s filing with stock exchanges, Chandra is stepping down to pursue new opportunities and passions aligned with his evolving personal and professional goals. Chandra joined Zomato (now Eternal) in 2018 as Assistant Vice President of Product and steadily rose through the ranks, serving as Vice President, Head of Business, and eventually taking on the role of Chief Operating Officer for the food delivery segment. Eternal Limited has not yet announced a replacement for Chandra. The development comes shortly after mass layoffs at Zomato. According to media reports, the company let go of around 600 customer support associates within a year of hiring them. Over the past year, Zomato has seen several key departures. Hemal Jain, who served as Global Head of Finance and CFO of Hyperpure, stepped down. Akriti Chopra, the company’s co-founder and Chief People Officer, also left. In October last year, Gunjan Soni resigned from her position as an Independent Director. Zomato recently rebranded itself to Eternal, which will comprise four major businesses: Zomato, Blinkit, District, and Hyperpure.
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