Former Navy Regular MAJ (NS) Terence Zou's carpooling network - the largest in Singapore - spreads its wings overseas.
RYDE - Singapore's first real-time carpooling app that matches drivers and passengers going to the same place - is making its first overseas foray in Hong Kong early this year.
The start-up is the brainchild of Major (MAJ) (NS) Terence Zou, who hopes to reduce road congestion and the carbon footprint in big cities worldwide.
"Every major city faces the same congestion and pollution problems to a certain degree. If we do it well in Singapore, RYDE can be the solution for other cities," said the 40-year-old.
The app has experienced phenomenal growth since its launch in Singapore last April, with its membership base growing by 40 percent month on month.
As of January, the company is the largest carpooling network in Singapore, with about 20,000 members. It aims to eventually amass 90,000 car owners, which is about 15 percent of the car population in Singapore.
According to the Land Transport Authority, a car ride emits 187 grams of carbon dioxide per km on the road. RYDE helps to reduce a country's carbon footprint by optimising resources - filling up cars with empty seats.
"Take Changi Naval Base for instance. There are a few people with cars while the rest struggle to get in and out of the base. There must be someone who is going the same way, just that we don t know who or where he is. Technology can help to solve the problem," explained MAJ (NS) Zou.
Passengers pay only a nominal distance-based fee (calculated by the app) to split the cost with the driver. Singapore laws allow car owners to accept payment from passengers who hitch a ride, but only for up to two trips a day.
RYDE does not charge a transaction fee for each successful match. Instead, drivers pay a flat fee of $30 a year for unlimited use of the app. Passengers pay $5 for five matches, or $15 for unlimited matches in a year.
Keeping up with the competition
The early success of the Singapore start-up has drawn big players into the market. One prominent example is GrabHitch, a ride-sharing service introduced by taxi-booking company GrabTaxi.
"The big companies are following in our footsteps. Think about it This is an affirmation that we identified the right trend before others, and we have a first-mover advantage," said MAJ (NS) Zou.
RYDE differentiates itself by placing great emphasis on the social element. For example, one recent promotion gave drivers and passengers a chance to win dining vouchers if they shared a ride to Harry's Bar.
"We are not a taxi company. Our drivers are not taxi drivers. RYDE is a pure carpooling social network where you get to make new friends and do your bit for the environment," said MAJ (NS) Zou.
Building a team
A Harvard graduate and former investment banker, he gave up a cushy job in the financial sector to start RYDE in 2014. From just two people, the company has grown into a 10-man team.
The real challenge was convincing talented people to join him, he noted. "No one had done this before; there were many doubters. But you can't do it alone. You have to build a team, get them to believe in you and join you in the fight."
MAJ (NS) Zou understood the importance of good leadership. A recipient of the Singapore Armed Forces Merit Scholarship, he served through some tense moments in the early 2000s.
When security forces were on heightened alert because of the September 11 terrorist attack as well as the territorial dispute over Pedra Branca, MAJ (NS) Zou led his crew in patrol missions to guard the seas of Singapore.
"There were 24/7 standbys and sailing. That kind of mindset - accomplishing a task (performing) a duty to the country, and working as a team - is what I picked up from my time in the Navy, and the lessons are still very relevant to me today," said the former commanding officer of patrol vessel RSS Resilience.
"If nobody believes in your leadership and the team doesn't work together, you re not going to attain mission success. It s the same at RYDE: we need to build a team and motivate all towards a common objective."
MAJ (NS) Zou has set a bold vision for his team: to make RYDE an international brand name.
"I believe we are working on something potentially very big. We are working very hard, and hopefully we will soon have our Singapore company in major cities around the world."
Promotion for servicemen
Can't get a taxi to travel out of an ulu (remote) military camp? RYDE is offering a $5 free credit for all SAF personnel and national servicemen. Download the app from the Apple or Android app store and register. Upload a picture of your 11B (as verification) to enjoy the offer.
