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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 (人日) 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:
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Higher take-home pay for driver-partners.
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Stronger driver-partner retention, keeping more partners engaged on the platform.
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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.