Albinder Dhindsa Named Eternal CEO as Deepinder Goyal Exits
Deepinder Goyal, the co-founder and long-time leader of Zomato and its parent entity Eternal, is stepping down as CEO. The top executive role will be assumed by Albinder Dhindsa, who currently heads Blinkit, the company’s rapidly expanding quick-commerce division.
Goyal, who will remain with the company as vice chairman, stated that the transition allows him to dedicate his time to “higher-risk exploration and experimentation.” He noted that such initiatives can be difficult to manage within the operational constraints of a publicly listed organization. In a letter addressed to shareholders, Goyal emphasized that his commitment to the firm remains unchanged, describing Eternal as his “life’s work.”
A Strategic Shift Toward Quick Commerce
The leadership transition highlights the increasing dominance of quick commerce within Eternal’s portfolio, as growth trends shift away from traditional food delivery. Blinkit, formerly known as Grofers and acquired by the company for $568 million in 2022, has become the firm’s fastest-growing segment.
Recent financial performance underscores this momentum:
- Net Order Value: Blinkit saw a 121% surge, reaching ₹133 billion (approximately $1.45 billion) in the third quarter.
- Total Profit: Eternal reported a 73% increase in profit, totaling ₹1.02 billion (roughly $11.13 million).
- Adjusted Revenue: The company posted ₹166.92 billion (about $1.8 billion), marking a 190% growth compared to the previous year, according to its Q3FY26 financial results.
Evolution of the Business
Goyal’s journey with the company began in 2008, when he co-founded the restaurant review platform FoodieBay with Pankaj Chaddah while both were employed at Bain & Company. The venture was rebranded as Zomato in 2010 to avoid naming conflicts with eBay. Following Chaddah’s departure in 2018, the company aggressively expanded its footprint, including the 2020 acquisition of Uber Eats’ India operations.
As he transitions out of the day-to-day CEO responsibilities, Goyal has already begun diversifying his professional focus. His recent projects include:
- Continue Research: An initiative centered on longevity.
- Temple: An experimental wearable device focused on brain health.
- LAT Aerospace: A co-founding role in an aviation startup.
Industry Challenges
While the quick-commerce sector is experiencing a significant boom in India, it remains under intense regulatory and public scrutiny. Concerns regarding the working conditions of gig workers have prompted the country’s labor ministry to intervene, requesting that platforms discontinue “10-minute delivery” marketing campaigns and implement stricter measures to protect delivery personnel.