Ryde CEO Terence Zou personally completed over 600 private-hire trips in S'pore using own firm's app

What would you do if you were the chief executive officer of a company listed on the New York Stock Exchange (NYSE)?

If you are Terence Zou, 50, the CEO of Ryde, you would also be a private-hire vehicle (PHV) driver — who has been completing trips on his own app.

Ryde is the first ride-hailing start-up in Singapore to be listed on the NYSE following its initial public offering (IPO) on Mar. 6, 2024.

Ryde CEO posts about being a Ryde driver

So, do not be surprised if you were to match with Zou the next time you book a ride on his company's app.

Zou has been making the rounds — both online and offline — as he has been completing trips as a bona fide PHV driver using the Ryde Driver app and posting about it.

The purpose?

To test the app first-hand by using it.

Made S$109.38 in slightly more than 3 hours

Zou's driving experience has also been instructive for other drivers as they get a glimpse of the distance he has to travel to make about S$100 each time.

For example, on Jun. 23, Zou posted his gross earnings of S$109.38 after completing seven trips on the previous Sunday evening from 8:30pm to 11:47pm.

He averaged about S$15.63 per trip, or about S$36.46 per hour.

His journey started in Bugis and took him to Punggol, Choa Chu Kang, Teban Gardens, Jurong East, Toa Payoh, Bishan, Hougang, Kovan, Bukit Timah, Newton and Orchard.

He clocked nearly 120km of driving in three hours.

The social media post also included Zou's whimsical observations of his passengers, who very likely had no idea they were sitting in the boss' car.

Made S$95.70 in 3 hours from 6:30am

And as seasoned PHV drivers are wont to say, "Not every day is Sunday", fluctuations in supply and demand translates to lower earnings on some days.

On Jul. 12, Zou put up another post about making S$95.70 after seven trips within a three-hour period.

He clocked about 95km, averaging S$13.67 per trip that Saturday morning, starting at around 6:30am.

This came up to about S$31.90 per hour.

The first trip, he revealed, was a cancellation by the passenger.

"First trip: a cancellation," he wrote. "But no hard feelings. Cancellation fee ensures drivers are fairly compensated—for time, for distance, for simply showing up."

The drive that morning saw him go from Whampoa to Maju Camp, before heading to Bukit Batok, Loyang Way, Changi Airport, Bedok South, Joo Chiat, Kembangan, Marine Parade, Haig Road and Kampong Bahru.

A photo of his app profile page showed he has a 4.96 out of five stars rating.

Is it lucrative?

For many who ply the roads for a living, they would have observed that Zou's earnings were still relatively stable by comparing his Jun. 22 and Jul. 12 earnings.

His Jun. 22 night drive yielded about S$0.91 per km driven, while his Jul. 12 morning drive saw him earn about S$1 per km driven.

However, his total gross earnings on Jul. 12 morning was not as high over a similar three-hour period as on Jun. 22 night.

What is considered by PHV drivers to be a "good" or "ideal" benchmark remuneration is for fares to work out to about S$1 per km driven.

This is to factor in the costs of PHV driving, which includes insurance, depreciation of the car, fuel, maintenance, as well as other miscellaneous costs.

Completed over 600 trips so far

In response to Mothership's queries, a Ryde spokesperson revealed that Zou has held a private hire car driver's vocational licence (PDVL) for the past three years and has completed over 600 trips.

He had started out driving using his own app as a social carpooling exercise, which then became something more to gain frontline experience, the spokesperson added.

To make app better

"These sessions have played a critical role in shaping product strategy, driver policies, and operational frameworks," Ryde said in response to queries.

For example, insights gathered while driving have directly influenced Ryde's Central Provident Fund (CPF) compliance journey and policy reforms aimed at improving driver welfare and retention, the spokesperson added.

Moreover, Zou wanted to experience the system performance, job matching efficiency, and app usability from a driver’s lens.

Zou said: "I drive throughout the year to test new features, system behaviours and driver workflows—regardless of time or demand cycles."

"Whether it's a busy Friday night, a quiet Tuesday afternoon, or school holidays, they all reveal different aspects of how our systems perform and how our driver-partners experience the platform," he added

He also said: "What matters is maintaining this consistent, hands-on approach so that when we make decisions about features, policies, or driver welfare, they're based on real experience, not boardroom assumptions."

Testing app at random times to improve it

Ryde also said its chief product officer regularly drives to stress-test new features in live settings as well, and that driving at random periods "enables a more comprehensive understanding of how our platform performs".

Such sessions help identify gaps, such as wait times, heatmaps, matching accuracy, and driver earnings under slower conditions, the spokesperson added.

Responding to feedback about low fares

While some PHV drivers appear appreciative of the CEO's on-the-ground experience, others have taken to the posts to highlight what they perceive to be hot-button issues, such as inadequate fares.

On Zou's Jun. 23 post, for example, a PHV driver commented: "Hello boss... please restructure the fare as mostly the fares are very low and less attractive..."

In response, Ryde replied via its official account, saying: "Fares are set by dynamic algorithms, influenced by real-time demand and supply. That said, we’re constantly sharing driver feedback with our team. Appreciate your feedback!"

Besides Ryde's responses, Zou also replied to comments.

In response to a query about his thoughts on the rise of autonomous vehicles, Zou wrote:

"You don’t need to worry. AVs are still in early trial phases and mostly limited to specific zones with very fixed routes. They will move slowly too I bet - think LRT/shuttle bus? They won’t be replacing human drivers any time soon. In fact, even globally, AVs are still years away from scaling safely in dense, complex cities like Singapore. For the foreseeable future, human drivers remain essential—and demand for ride-hailing services will continue to grow."

Ryde's spokesperson also highlighted that the driver app has a "0 per cent commission structure", which is unlike major platforms, "meaning drivers keep more of what they earn from each trip".

Ryde also provides a support system and incentive programme, the spokesperson added.

This includes welfare benefits including rental rebates and leave options, as well as bonus and incentive structures are transparent and achievable, "without unrealistic targets".

App revamp soon

With regards to future plans, the second half of 2025 will be see the rollout of other rewards, stronger community engagement, and upgrades that make the platform more rewarding for everyone, the Ryde spokesperson added.

Driver-partners are advised to look out for a comprehensive app revamp in the third quarter of 2025.

The change is focused on improving their earning potential and daily experience in terms of better navigation, as well as clearer incentive tracking.

Riders can also look forward to carpooling solutions to reduce the carbon footprint, Ryde added.

But before that comes to pass, what can they expect?

Probably hopping into Zou's car — unknowingly.

Top photos via Terence Zou's Facebook