When launching into a new market, the first thing to look into is what's the size of this market and how much it can grow. Adequate supply of drivers and existing competition are also key factors impacting a market's attractiveness.
Tapping into a monopolized market is significantly more favorable for companies like Bolt. A single player market allows competing services to challenge for better service, faster vehicle arrival times, and greater affordability.
Bolt's strategy for growth varies based on the market stage. In early-stage markets, the focus is creating value propositions for drivers and competitive pricing for customers, while in mature markets, the approach differs.
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