RideNow is a two-sided ride-hailing app operating in 40 cities. Over the last 7 days, the share of newly registered users who complete their first trip within 7 days of signup fell sharply, and the GM wants a fast diagnosis because first-trip conversion is the main activation KPI for new-user growth.
The 7-day first-trip conversion rate dropped from 32.4% in the prior 4-week baseline to 24.8% last week. During the same period, weekly new signups increased from 210,000 to 265,000. The drop is broad enough to matter financially: expected completed first trips fell from roughly 68,000 to 65,700 despite higher acquisition volume. Early funnel metrics show mixed movement: app install-to-signup stayed flat at 71%, identity verification completion declined from 91% to 84%, ride request rate among verified new users fell from 58% to 52%, and request-to-completed-trip conversion fell from 61% to 57%. A pricing update, a new onboarding flow, and a driver incentive change all launched within the last 10 days.
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