Eternal CEO Deepinder Goyal hands over reins to Blinkit chief as quick commerce takes off

Core Insights - Deepinder Goyal, co-founder and CEO of Zomato and its parent company Eternal, is stepping down and passing the leadership to Albinder Dhindsa, CEO of Blinkit, while remaining as vice chairman on the board [1][2] - Goyal emphasizes that this change in title does not reflect a decrease in commitment to the company's outcomes, stating that Eternal remains his life's work [2] - The leadership transition occurs as Eternal reports significant growth, with profits increasing approximately 73% to ₹1.02 billion (around $11.13 million) and adjusted revenue rising 190% to ₹166.92 billion (about $1.8 billion) year-over-year [3] Company Developments - Zomato, co-founded by Goyal and Pankaj Chaddah in 2008, initially started as a restaurant discovery platform and has since expanded into food delivery and quick commerce [2][3] - The company has strengthened its market position by acquiring Uber Eats' India business in 2020 and Blinkit for $568 million in 2022 [3] - Blinkit has emerged as the fastest-growing segment within Eternal, with net order value increasing 121% to ₹133.0 billion (approximately $1.45 billion) in the last quarter [4] Industry Context - The shift in leadership may indicate Blinkit's growing importance within Eternal, as the company's growth trajectory is increasingly leaning towards quick commerce rather than traditional food delivery [5] - The quick commerce sector in India is experiencing rapid growth, although it faces scrutiny regarding the working conditions of gig workers, prompting the labor ministry to request changes in marketing practices and improvements in delivery personnel conditions [5]