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Korea Herald
20-06-2025
- Business
- Korea Herald
Tencent Cloud Empowers Ryde to Elevate In-App Communication in Southeast Asia
HONG KONG, June 20, 2025 /PRNewswire/ -- Tencent Cloud, the cloud business of global leading technology company Tencent, today announced a strategic partnership with Ryde Group Ltd (NYSE American: RYDE) ("Ryde" or the "Company"), a technology company with a leading platform for mobility and quick commerce in Singapore, to elevate in-app communication for ride-hailing services in Southeast Asia. By integrating Tencent Real-Time Communication (TRTC) technology powered by Tencent Cloud, along with WeChat Mini Program, Ryde is enhancing driver and rider interactions with ultra-low latency, secure, and seamless communication directly within its platform. As Ryde expanded its user base and platform capabilities, the limitations of traditional telecom-based communication systems have become evident. Reliance on third-party number masking added unnecessary complexity, increased operational costs, and failed to meet the expectations of a mobile-first, digitally savvy audience. To maintain its competitive edge, Ryde sought a cutting-edge, cloud-native solution to ensure secure, real-time communication, protect user privacy, and optimize operational efficiency. With its proven global leadership in real-time communication infrastructure, powering platforms like Weixin/WeChat, QQ, and PUBG, Tencent Cloud's ultra-low latency solution, carrier-grade stability, and seamless integration capabilities aligned perfectly with Ryde's vision of building a future-ready mobility platform. Enhancing Mobility with Tencent Cloud's Real-Time Technology As one of the powerful solutions under Communications Platform as a Service (CPaaS), TRTC is renowned for its carrier-grade stability, ultra-low latency architecture, and seamless integration into mobile-first environments. By leveraging this solution, Ryde can replace traditional telecom methods with a scalable, secure, and cost-effective in-app solution, ensuring seamless voice interactions between riders and driver-partners. Beyond core infrastructure, Ryde also benefited from Tencent Cloud's comprehensive offerings, including scalable support for user demand, robust security compliant with international standards, improved performance with minimized latency, and access to AI and analytics for smarter pricing and customer engagement. Driving Long-Term Digital Mobility Transformation in Southeast Asia The partnership between Ryde and Tencent Cloud marks a strategic alliance between two growth-oriented platforms committed to advancing high-impact digital infrastructure across Southeast Asia. This collaboration is grounded in a shared vision to unlock value in rapidly evolving sectors such as urban mobility, platform-as-a-service, and AI-powered digital solutions. For Tencent Cloud, this partnership aligns with its regional expansion goals and strengthens its role in enabling super-app ecosystems. By offering scalable, secure infrastructure and advanced solutions like TRTC, Tencent Cloud is deepening its presence in the fast-growing mobility sector, with Ryde as a key partner. For Ryde, the collaboration accelerates its product development, enhances platform reliability, and drives operational efficiency—crucial factors as it expands into new areas including ride-hailing, deliveries, payments, and sustainable mobility. Tencent Cloud's robust ecosystem empowers Ryde to deliver exceptional user experiences while maintaining cost efficiency and technical agility. Kenneth Siow, Regional Director for Southeast Asia and General Manager for Singapore & Malaysia at Tencent Cloud International, said, "We are thrilled to partner with Ryde in transforming the ride-hailing communication experience across Southeast Asia. By integrating our Real-Time Communication (TRTC) technology, we enable seamless, secure, and ultra-low latency interactions within the Ryde platform. This collaboration underscores Tencent Cloud's commitment to empowering innovative companies with cutting-edge cloud solutions that enhance user experiences and drive operational efficiency. Together, we are establishing a long-term strategic foundation to capture emerging revenue opportunities, optimize margins through advanced infrastructure, and future-proof our platforms in Southeast Asia's rapidly evolving digital economy." Nitin Dolli, CTO at Ryde Group, said, "Our partnership with Tencent Cloud is more than a technological upgrade—it is a transformative step that accelerates Ryde's evolution beyond ride-hailing into a comprehensive regional super-app. Leveraging Tencent Cloud's robust TRTC technology, we have further enhanced the communication experience for both riders and driver-partners, while upholding the highest standards of privacy, security, and scalability. We believe this collaboration strengthens our competitive edge and reaffirms our commitment to delivering smarter, more seamless solutions for our users." In addition to TRTC implementation, Tencent Cloud and Ryde are jointly exploring new opportunities with WeChat Mini Program in areas such as AI-driven fleet optimization, intelligent dispatch systems, and green mobility analytics—initiatives designed to boost operational performance and support scalable, long-term growth. About Tencent Cloud: Tencent Cloud, one of the world's leading cloud companies, is committed to creating innovative solutions to resolve real-world issues and enabling digital transformation for smart industries. Through our extensive global infrastructure, Tencent Cloud provides businesses across the globe with stable and secure industry-leading cloud products and services, leveraging technological advancements such as cloud computing, Big Data analytics, AI, IoT, and network security. It is our constant mission to meet the needs of industries across the board, including the fields of gaming, media and entertainment, finance, healthcare, property, retail, travel, and transportation. 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 driver-partners on our platform. For more information, please visit to learn more. 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.
Yahoo
13-06-2025
- Business
- Yahoo
Starbucks Plans Price Cuts in China Amid Intensifying Competition
Starbucks Corporation (NASDAQ:SBUX) is one of the best stocks for a . The company recently announced it will reduce the prices of several iced beverages in China by an average of 5 yuan (about $0.70) nationwide, starting June 10. The US coffee company shared on its Weixin account that the move aims to make a wide range of drinks, including non-coffee options and Frappuccinos, more affordable as market competition grows and consumers become more cautious with their spending. Although China is Starbucks Corporation (NASDAQ:SBUX)'s second-largest market after the US, the coffee industry there is fiercely competitive, and many consumers are cutting back due to economic uncertainty and job concerns. According to a recent update, some Starbucks beverages will now be available for as little as 23 yuan. A source familiar with the matter said the price adjustment isn't meant to match competitors, but rather to draw more afternoon traffic. While Starbucks Corporation (NASDAQ:SBUX) has previously stated it would avoid price wars, it has introduced smaller drink sizes and offered coupons that effectively bring down costs for consumers. The company is also exploring ways to revitalize its operations in China, including selling stakes in the business. While we acknowledge the potential of SBUX as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: and Disclosure. None. Sign in to access your portfolio
Yahoo
13-06-2025
- Business
- Yahoo
Starbucks Plans Price Cuts in China Amid Intensifying Competition
Starbucks Corporation (NASDAQ:SBUX) is one of the best stocks for a . The company recently announced it will reduce the prices of several iced beverages in China by an average of 5 yuan (about $0.70) nationwide, starting June 10. The US coffee company shared on its Weixin account that the move aims to make a wide range of drinks, including non-coffee options and Frappuccinos, more affordable as market competition grows and consumers become more cautious with their spending. Although China is Starbucks Corporation (NASDAQ:SBUX)'s second-largest market after the US, the coffee industry there is fiercely competitive, and many consumers are cutting back due to economic uncertainty and job concerns. According to a recent update, some Starbucks beverages will now be available for as little as 23 yuan. A source familiar with the matter said the price adjustment isn't meant to match competitors, but rather to draw more afternoon traffic. While Starbucks Corporation (NASDAQ:SBUX) has previously stated it would avoid price wars, it has introduced smaller drink sizes and offered coupons that effectively bring down costs for consumers. The company is also exploring ways to revitalize its operations in China, including selling stakes in the business. While we acknowledge the potential of SBUX as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: and Disclosure. None.
CNBC
09-06-2025
- Business
- CNBC
Starbucks to lower prices in China as competition heats up
Starbucks China will lower the prices of some of its iced drinks by an average of 5 yuan ($0.70) across the country, the company announced on Monday, as competition intensifies and consumers become more cautious about spending. In a post on its Weixin social media account, the U.S. coffee chain said it would offer more "accessible" prices on dozens of its drinks, including non-coffee drinks and the Frappuccino, from Tuesday. While China is Starbucks' second-largest market after the U.S., the coffee market is highly competitive and consumers have become more cautious about spending because of the slowing economy and concerns about job security. The new approach means some of Starbucks' drinks will be priced as low as 23 yuan, the post said. Domestic rivals such as Luckin Coffee and Cotti have priced their drinks as low as 9.9 or even 8.8 yuan, while deep-pocketed internet companies and Alibaba have entered the food delivery market, adding to the competition. With offers and vouchers, Chinese coffee consumers can buy themselves a drink for as little as 2.9 yuan. A person close to Starbucks, said the company was not reducing prices in response to intense price competition, but looking to attract more customers in the afternoon. The individual requested anonymity as they were not in a role that allowed them to comment to the media. "Starbucks likely has a longer-term strategy, which is to focus on the demand for non-coffee items in the afternoon among consumers," the source said. Starbucks had said previously that it would not engage in a price war. However, it has also introduced smaller-sized drinks and issued coupons which have lowered prices for customers. The U.S. giant has also been looking to revive its business in China via selling stakes in the business.
Time of India
09-06-2025
- Business
- Time of India
Starbucks lowers prices in China as rivals brew up discount war
Starbucks China will lower the prices of some of its iced drinks by an average of 5 yuan (USD 0.70) across the country, the company announced on Monday, as competition intensifies and consumers become more cautious about spending. In a post on its Weixin social media account, the U.S. coffee chain said it would offer more "accessible" prices on dozens of its drinks, including non-coffee drinks and the Frappuccino, from Tuesday. While China is Starbucks' second-largest market after the U.S., the coffee market is highly competitive and consumers have become more cautious about spending because of the slowing economy and concerns about job security. The new approach means some of Starbucks' drinks will be priced as low as 23 yuan, the post said. Domestic rivals such as Luckin Coffee and Cotti have priced their drinks as low as 9.9 or even 8.8 yuan, while deep-pocketed internet companies and Alibaba Group have entered the food delivery market, adding to the competition. With offers and vouchers, Chinese coffee consumers can buy themselves a drink for as little as 2.9 yuan. A person close to Starbucks, said the company was not reducing prices in response to intense price competition, but looking to attract more customers in the afternoon. The individual requested anonymity as they were not in a role that allowed them to comment to the media. "Starbucks likely has a longer-term strategy, which is to focus on the demand for non-coffee items in the afternoon among consumers," the source said. Starbucks had said previously that it would not engage in a price war. However, it has also introduced smaller-sized drinks and issued coupons which have lowered prices for customers The U.S. giant has also been looking to revive its business in China via selling stakes in the business.
