Angie’s List, Venmo and Lyft are considered transformational new businesses. Was there an innovator advantage? Explain your answer. If there was an innovator advantage, how long did it last?

Need a paper written? Our academic experts can create an original essay on any subject for ~~$13.00~~ $11/page Learn More

Different companies’ success can be explained with reference to an innovator’s advantage. It involves the presence of advantages over competitors due to access to new technology or customer loyalty. Angie’s List was established in 1995 before the emergence of other customer rating services (Yelp, Trip Advisor, etc.). Its popularity grew dramatically and allowed it to create a stable customer base, but Angie’s List did not introduce unique technological solutions, and this is why the presence of an innovator’s advantage is doubtful.

As for Venmo, it was founded in 2009 to become one of the first companies to use mobile payments. Its technological advantage did not last for long; for instance, Google Wallet, its closest competitor, was launched two years later.

As for Lyft, it did not have an innovator’s advantage. In 2012 when it was founded, the company did not implement innovative and revolutionary technology. Moreover, Uber, its key competitor, was already providing transportation services.

Rate the answer:

Further research on topic

Future Business in Christensen’s “Innovators Dilemma”

Answer by Academic.tip's expert

An answer to this question is provided by one of our experts who specializes in business & economics. Let us know how much you liked it and give it a rating.

Cite this page

Select a citation style:

References

Academic.Tips. (2022) 'Angie’s List, Venmo and Lyft are considered transformational new businesses. Was there an innovator advantage? Explain your answer. If there was an innovator advantage, how long did it last'. 28 January.

Reference

Academic.Tips. (2022, January 28). Angie’s List, Venmo and Lyft are considered transformational new businesses. Was there an innovator advantage? Explain your answer. If there was an innovator advantage, how long did it last? https://academic.tips/question/angies-list-venmo-and-lyft-are-considered-transformational-new-businesses-was-there-an-innovator-advantage-explain-your-answer-if-there-was-an-innovator-advantage-how-long-did-it-last/

References

Academic.Tips. 2022. "Angie’s List, Venmo and Lyft are considered transformational new businesses. Was there an innovator advantage? Explain your answer. If there was an innovator advantage, how long did it last?" January 28, 2022. https://academic.tips/question/angies-list-venmo-and-lyft-are-considered-transformational-new-businesses-was-there-an-innovator-advantage-explain-your-answer-if-there-was-an-innovator-advantage-how-long-did-it-last/.

1. Academic.Tips. "Angie’s List, Venmo and Lyft are considered transformational new businesses. Was there an innovator advantage? Explain your answer. If there was an innovator advantage, how long did it last?" January 28, 2022. https://academic.tips/question/angies-list-venmo-and-lyft-are-considered-transformational-new-businesses-was-there-an-innovator-advantage-explain-your-answer-if-there-was-an-innovator-advantage-how-long-did-it-last/.

Bibliography

Academic.Tips. "Angie’s List, Venmo and Lyft are considered transformational new businesses. Was there an innovator advantage? Explain your answer. If there was an innovator advantage, how long did it last?" January 28, 2022. https://academic.tips/question/angies-list-venmo-and-lyft-are-considered-transformational-new-businesses-was-there-an-innovator-advantage-explain-your-answer-if-there-was-an-innovator-advantage-how-long-did-it-last/.

Work Cited

"Angie’s List, Venmo and Lyft are considered transformational new businesses. Was there an innovator advantage? Explain your answer. If there was an innovator advantage, how long did it last?" Academic.Tips, 28 Jan. 2022, academic.tips/question/angies-list-venmo-and-lyft-are-considered-transformational-new-businesses-was-there-an-innovator-advantage-explain-your-answer-if-there-was-an-innovator-advantage-how-long-did-it-last/.

Copy