Serving Niche Customers While Creating Value for Society

Image: University of San Francisco Don's Basketball Game 

​Corporate Challenge: Finding niche customers that need your product.

Ironbound Strategy: Sometimes creating value for one stakeholder, can overlap and create an abundance of value for your customers, employees, and society.

Ironbound Action: California based Lyft has been solving traffic issues around professional sports arenas for years.  Recently Lyft has been reaching out to college’s like the University of San Francisco to manage stadium traffic before and after USF Don’s basketball games. Lyft worked with Don’s Athletics to create an optimal location for Lyft pick-ups and drop-offs to alleviate traffic, and also provided codes for free rides to-and-from the basketball venue for Don’s fans. While creating value for customers, Lyft simultaneously created value for their employees and society.

​* Lyft’s revenues are expected to be $2B in FY2018, compared to $1B last FY.  Ride sharing is expected to be worth $285B by 2030.  Lyft has raised $4.9B through 19 fundraising rounds, and is worth around $20B pre-IPO.