SINGAPORE, SG / ACCESS Newswire / February 6, 2025 / Ryde Group Ltd (NYSE American:RYDE) ("Ryde' or the "Company"), a technology company with a leading platform for mobility and quick commerce in Singapore, ushered in the Lunar New Year by reaffirming its commitment to driver-partners through the inaugural RydeHongbao giveaway. More than 1,000 driver-partners were invited to receive a Hongbao-traditional red envelopes filled with cash gifts symbolizing good fortune and prosperity - via a convenient drive-by pick-up at Purvis Street in the Central Business District (CBD).
Empowering Driver-Partners with Prosperity and Opportunity
The 7th day of the Lunar New Year, known as Ren Ri (??) or "Everyone's Birthday," is a culturally significant day that symbolizes renewal, prosperity and new beginnings. Traditionally, it is a day when people deposit money to attract good fortune and ensure stability for the year ahead. In this spirit, Ryde distributed Hongbao to its driver-partners, reinforcing its 7 Driver Commitments Initiative, particularly the pillar of Active Engagement.
"Our driver-partners are the backbone of our platform, and this event is our way of recognizing their dedication and hard work on the road," said Terence Zou, Founder, Chairman & CEO of Ryde Group. "We deeply value their contributions and remain committed to helping them earn more in 2025 and beyond."
Driving Growth Through 0% Commission
Beyond celebrating cultural traditions, Ryde continues to champion fair earnings and long-term driver success through its industry-leading 0% commission model and 7 Driver Commitments initiative. These initiatives have led to:
Higher take-home pay for driver-partners.
Stronger driver-partner retention, keeping more partners engaged on the platform.
Improved rider experience through a committed and motivated driver network.
Driver-partners expressed appreciation for Ryde's continued efforts:
Mr. Tang, a longtime Ryde driver-partner, shared:
"Ryde has always been supportive, and this event is another way they show they care. I am proud to be part of this community!"
Mr. Ismail added:
"Ryde's commitment to driver-partners is unmatched. This event is yet another way they demonstrate their continued support. It makes me feel truly appreciated to be part of the Ryde community."
Mr. Sonny, another Ryde driver-partner, echoed the sentiment:
"This gesture from Ryde isn't just about the money-it's about feeling valued and knowing our hard work is recognized."
Looking Ahead: Strengthening Driver-Partner Support
As Ryde expands its market presence in Singapore, it remains dedicated to launching meaningful programs that celebrate and empower driver-partners. The success of the RydeHongbao initiative, alongside the impact of the 0% commission model and 7 Driver Commitments, reinforces Ryde's commitment to fairness, prosperity, and long-term driver success.
For more updates on Ryde's driver-focused initiatives, visit www.rydesharing.com.
About Ryde Group Ltd
Ryde, a homegrown super mobility app founded in Singapore, is the world's FIRST on-demand carpooling app since 2014! As a publicly listed company on the NYSE, we are reimagining the way people and goods move around. We offer a full suite of services, including carpooling, private hire, taxi, and delivery, but what truly sets us apart is our commitment to empower our private-hire and taxi partners. We take 0% commission, ensuring that more of every hard-earned dollar goes to drivers on our platform. For more information, please visit https://rydesharing.com/ to learn more.
Contacts
For Media Relations:
Media Team
Ryde Group Ltd
Email: media@rydesharing.com
For Investor Relations:
Investor Relations Team
Ryde Group Ltd
Email: investor@rydesharing.com
FORWARD-LOOKING STATEMENTS
Statements in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute "forward-looking statements" within the meaning of The Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements relating to the expected trading commencement and closing dates. The words "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," "target," "will," "would" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors . Any forward-looking statements contained in this press release speak only as of the date hereof, and Ryde Group Ltd specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law.
Contact Information
Suraj Raj
Group Corporate Communications & Branding Manager
suraj@rydesharing.com
(65) 97775120
SOURCE: Ryde Group
