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Ryde Group Ltd. (symbol: RYDE) is revolutionizing the mobility sector with its comprehensive super mobility app designed to offer ultimate convenience and reliability. The company operates across two main segments: mobility and quick commerce.
In the mobility segment, Ryde Group provides an array of services including on-demand and scheduled carpooling, as well as ride-hailing services. The app seamlessly matches riders with driver partners, ensuring an efficient and user-friendly experience. Whether you need a quick lift or a planned trip, Ryde Group's mobility solutions cater to diverse customer needs.
In addition to its mobility services, Ryde Group is making significant strides in the quick commerce segment. The company offers on-demand, scheduled, and multi-stop parcel delivery services, catering to the increasing demand for fast and reliable delivery options. By leveraging its robust network and advanced technology, Ryde Group ensures parcels are delivered swiftly and securely.
Recent achievements highlight Ryde Group's upward trajectory. The company has successfully expanded its service offerings, forged strategic partnerships, and consistently enhanced its app features to improve user experience. Financially, Ryde Group has demonstrated solid performance, reflecting its growing market presence and operational efficiency.
Current projects include the continuous development of the app to incorporate more features, improving user interface, and expanding service coverage areas. Ryde Group is committed to maintaining its leadership in the mobility and quick commerce sectors through innovation and customer-centric solutions.
Ryde Group's super mobility app stands out in the market for its integration of multiple mobility tools into a single, seamless platform. This comprehensive approach not only provides users with a multitude of options but also simplifies their transportation and delivery needs through one convenient app.
As the company continues to grow and adapt to market demands, stakeholders and potential investors can expect Ryde Group to play a significant role in the future of mobility and quick commerce, driven by its commitment to excellence and innovation.
Ryde Group (NYSE American:RYDE) has announced the recipients of the Ryde Education Merit Awards (REMA) 2024: Sasha Ng and Hannah Yeo. These outstanding students were selected through a rigorous process evaluating academic excellence, leadership, and commitment to societal impact.
Sasha Ng, daughter of a Ryde taxi driver, excels at Dunman High School with straight As and aspires to study Law and International Relations at Oxford. Hannah Yeo, daughter of a Ryde delivery partner, maintains a 3.85 GPA at Ngee Ann Polytechnic pursuing Early Childhood Development and plans to become an Art Teacher through NIE.
As REMA recipients, both will receive mentorship opportunities with Terence Zou, Founder, Chairman, and CEO of Ryde Group. The awards reflect Ryde's commitment to empowering future leaders who will shape Singapore's future across governance, education, and beyond.
Ryde Group (NYSE American:RYDE) hosted its Annual CNY Lunch to celebrate its top six driver-partners and reinforce its commitment to driver engagement. The event highlighted the company's distinctive 0% commission model, which allows drivers to retain more of their earnings compared to other ride-hailing platforms.
The company reports that since implementing the 0% commission model, they have experienced higher driver earnings, improved retention rates, and enhanced service standards through a more engaged driver network. The event featured testimonials from long-term drivers like Eugene and Mr. Quek, who emphasized the value of community and support within Ryde.
The company continues to strengthen driver engagement through various initiatives including #MakanwithRyde, #RydeHongbao, and #AnnualCNYLunch as it expands its presence in Singapore.
Ryde Group (NYSE American:RYDE) launched its inaugural #RydeHongbao giveaway, distributing traditional red envelopes with cash gifts to over 1,000 driver-partners at Purvis Street in Singapore's CBD. The event, coinciding with Ren Ri (人日), the 7th day of Lunar New Year, reinforces Ryde's 7 Driver Commitments Initiative and Active Engagement pillar.
The company continues to maintain its 0% commission model, which has resulted in higher take-home pay for drivers and improved driver retention. Driver-partners, including Mr. Tang, Mr. Ismail, and Mr. Sonny, expressed appreciation for Ryde's support and recognition of their contributions.
Terence Zou, Founder, Chairman & CEO of Ryde Group, emphasized the company's commitment to helping drivers earn more in 2025 and beyond. The initiative demonstrates Ryde's ongoing dedication to fair earnings and long-term driver success in Singapore's mobility and quick commerce platform.
Ryde Group (NYSE American:RYDE) has announced platform fee adjustments while maintaining its 0% commission policy for driver-partners. Starting January 23, 2025, platform fees will be adjusted to $1.05 (GST exclusive) for fares $18 and below, and $1.25 (GST exclusive) for fares above $18.
The company continues its 7 Driver Commitments focusing on transparency and fair rewards, including a 1-Day Leave Scheme. Key strategic areas include enhancing rider safety, app upgrades, and operational improvements through AI and data analytics. The RydeGreen Program promotes EV adoption and eco-friendly practices, supporting Singapore's Green Plan 2030.
These changes are projected to potentially increase revenue by 15-20% for FY2025, with reinvestment planned for platform improvements and ecosystem development.
Ryde Group (NYSE American:RYDE) has announced a successful partnership with Delivery Chinatown in Singapore, focusing on enhancing the local delivery ecosystem. The collaboration has created new opportunities for Ryde's driver-partners through consistent delivery jobs and increased earning potential via efficient route optimization.
The partnership aims to connect traditional F&B merchants in Chinatown with modern logistics solutions, leveraging Ryde's proprietary AI algorithms to optimize delivery routes and improve turnaround times. Driver-partners can now fulfill orders from multiple platforms, maintaining steady income streams.
According to Ryde's CTO Nitin Dolli, the partnership demonstrates how technology can strengthen local ecosystems while delivering value to businesses and consumers. Delivery Chinatown's CTO Gao Shan emphasized how the collaboration helps preserve Chinatown's food heritage while enabling merchants to thrive in the digital economy.
Ryde Group (NYSE:RYDE) announces expansion of its RydeGreen Program, targeting 1,200 additional EVs by 2027 in Singapore. The company partners with Singapore Electric Vehicles (SEV) to provide affordable EV leasing solutions to driver-partners. The initiative includes a $1 million green bonus commitment for drivers and aims to support Singapore's Green Plan 2030.
The phased rollout targets 600 EVs by 2025 and 900 EVs by 2026. SEV's collaboration includes plans to install 250 charging stations across Singapore by 2030. The program leverages AI-powered routing algorithms to optimize routes and minimize carbon emissions while aiming to increase revenue through EV trip bookings.
Ryde Group (NYSE American:RYDE) has secured a 3-year renewal for both its full ride-hail service operator license and carpool service operator license in Singapore. The company, established in 2014, maintains a 0% commission policy for drivers, along with 7 driver commitments and a 1-day leave scheme to ensure better earnings and work-life balance.
The company has enhanced its app with improved UI, AI-driven personalized trip recommendations, and faster ride-matching capabilities. Ryde+, their subscription-based service, offers cashback rewards and exclusive perks. The company is advancing sustainability initiatives through increased EV fleet adoption and maintains a focus on affordable, transparent fare structures.
Ryde Group (NYSE American: RYDE) has launched its Supersized Cashback Christmas Challenge, offering enhanced benefits to Ryde+ subscription members. The campaign features 100% cashback offerings across 4 weeks in December, including RydeCoins and Credit Cards options.
Ryde+ subscription service provides members with 3% cashback on every trip, priority ride-matching during peak hours, and exclusive lifestyle perks across F&B, retail, and lifestyle partners. The initiative aims to strengthen rider loyalty and demonstrate the scalability of Ryde's subscription-based revenue model in Singapore's ride-hailing market.
Ryde Group (NYSE: RYDE) has successfully completed its annual #MakanWithRyde initiative, demonstrating its commitment to driver-partners and local businesses in Singapore. The event provided over 1,000 driver-partners with specially prepared Nasi Lemak packets from Dahlia Cafe through a drive-by pick-up point on Victoria Street.
The initiative aligns with Ryde's 7 Driver Commitments, focusing on Active Engagement and community building. Driver-partners shared positive feedback, with Mr. Yeo and Mr. Quek expressing gratitude for Ryde's recognition and support. CEO Terence Zou emphasized the importance of driver-partners as the platform's foundation. The program supports UN Sustainable Development Goals 11 and 8, promoting community bonds and economic growth.
Ryde Group (NYSE American: RYDE) has extended its partnership with Singlife to implement a Work Injury Compensation Act (WICA) Protection Plan for platform workers, effective January 1, 2025. The plan provides comprehensive coverage including lump sum compensation for permanent incapacity or death, medical leave wages, and medical expenses related to work accidents. This initiative complements Ryde's existing driver-first approach, which includes 0% driver commissions, 7 driver commitments, and a 1-day leave scheme. The partnership aims to enhance financial security and protection for driver-partners while on the road.
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