Deepinder Goyal's Strategic Exit: Stepping Down from Eternal as Blinkit Finally Turns a Profit

Well, isn't this an interesting development in India's dynamic startup landscape! Deepinder Goyal, the visionary CEO behind Zomato, has reportedly stepped down from the board of Eternal, an investment firm that, let's be honest, has been quite close to his heart. This news arrives almost immediately after his quick commerce venture, Blinkit, announced it had achieved profitability – a monumental milestone, wouldn't you say?

Goyal himself shared his rationale, making it clear that the decision was a deliberate step to "avoid any potential conflict of interest and to have sharper separation between the two companies." It’s a move that speaks volumes about maintaining ethical boundaries and ensuring transparent governance, especially now that Blinkit is proving to be a true asset to the Zomato ecosystem. You see, Eternal, originally a venture capital firm, later transitioned into a family office for both Goyal and Blinkit's CEO, Albinder Dhindsa, making investments in diverse startups from fitness to e-commerce.

Now, let's talk about Blinkit. The announcement of its profitability is a truly huge deal. For a while there, quick commerce was seen as something of a financial quagmire, a drain on resources with a murky path to sustainable earnings. Critics often questioned Zomato's hefty $568 million all-stock acquisition of Blinkit (then Grofers) back in 2022. It was a big bet, and frankly, a somewhat controversial one at the time.

But fast forward to now, and it seems that bet is paying off handsomely. Albinder Dhindsa, the man leading Blinkit, took to social media to share the exciting news that the company had turned a profit in the fourth quarter of the financial year 2024. This isn't just about Blinkit; it's a massive vindication for Zomato's strategic vision and a significant boost to its overall financial health. It signals that the quick commerce model, despite its challenges, can indeed be a viable and profitable venture.

So, what does this all mean? Goyal's resignation from Eternal's board, coupled with Blinkit's profitability, paints a picture of a company streamlining its operations and reinforcing its commitment to clear corporate governance. It shows a mature approach, recognizing that as Zomato's empire grows, potential conflicts, even perceived ones, need to be proactively addressed. It's about focusing on the core business, especially when a key segment like Blinkit is finally shining brightly. Definitely a story to watch as Zomato continues its journey!