Lyft, Inc. is an American ridesharing platform that is a direct competitor of Uber Technologies, Inc....

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General Management

Lyft, Inc. is an American ridesharing platform that is a directcompetitor of Uber Technologies, Inc. in the US market. Using Lyftas an example, explain the importance of network effects forbusiness success in the presence of a competitor. Why did Lyftmanage to successfully enter the US market for ridesharing andcompete with Uber, i.e., why is ridesharing not a dominant firmindustry? Explain by referring to concepts such as multi-homingcosts, network effects and product differentiation.

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In Lyft which is an American ridesharing platform that is a competitor of Uber technologies in US market Lyft uses network effect for business success The mean of network effect that it plays a major role in the success of the organizations marketplace business It helps in increasing the customer base markets share and overall value proposition of product or service See Answer

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