SINGAPORE--(BUSINESS WIRE)--Ryde Group Ltd (“Ryde” or “the Company”) (NYSE American: RYDE), a technology company with a leading platform for mobility and quick commerce in Singapore, today announced that the Company’s senior management team, including CEO and Founder Terence Zou, CFO Chen Fei Lang and CTO Nitin Dolli, participated in the New York Stock Exchange closing bell ceremony in person on Thursday, April 4, 2024.
The ceremony celebrated the success of the Company’s IPO, on March 8, 2024, and honored Ryde as the first Singaporean ride-hailing start-up to IPO on the NYSE. That IPO sold 3,000,000 Class A ordinary shares at a price of US$4.00 per share to the public for a total of US$12,000,000 of gross proceeds to the Company before deducting underwriting discounts and offering expenses.
“We are honored to have rung the New York Stock Exchange closing bell,” said Mr. Terence Zou, Founder & CEO of Ryde. “As the first Singaporean ride-hailing start-up to IPO on the NYSE, we believe our carpooling, ride-hailing, and quick commerce delivery services bring Singapore’s communities closer and make mobility more sustainable."
“As importantly, we proudly stand as the world's first real-time carpooling app dedicated to sustainable transportation solutions and a reduced carbon footprint. This is especially important in Singapore, where there exists increasing demand for services to meet the needs of commuters due to limitations on vehicle ownership,” concluded Mr. Zou.
Looking forward, Mr. Zou said that Ryde is planning on utilizing “a significant portion” of its IPO proceeds to both propel the Company into new geographic markets and to invest in technological improvements. These efforts, he said, will play “a pivotal role” in accelerating Ryde’s future revenue and operational growth.
A replay of the Closing Bell ceremony can be found at this link: https://www.youtube.com/watch?v=MDMDUecVJVU
About Ryde Group Ltd
The first carpool app developed in Singapore, Ryde has revolutionized how people move from point to point. Its mission is to positively impact the lives of all riders and drivers through leveraging technology to better facilitate the movement of people and goods.
Ryde provides on-demand and scheduled carpooling and ride-hailing services, connecting riders with drivers. Ryde also provides on-demand, scheduled, and multi-stop parcel delivery services. From its origins as a carpool app, Ryde has expanded to provide a full suite of mobility and delivery options. For more information, please visit: https://rydesharing.com/
