Lyft Announces Happy Hour, the Opposite of Surge Pricing

Lyft, the ridesharing app that connects available drivers with those in need of a ride, is taking a closer look at supply and demand

The San Francisco-based startup announced Happy Hour, a feature that will offer Lyft passengers a 10% to 50% discount on standard ride costs during times when demand for drivers is low

Competitive ridesharing companies like Lyft, Uber, and Sidecar already take the opposite approach when things are busy, using surge pricing to elevate ride costs when demand is high. Lyft is the first ridesharing company to take this algorithmic supply and demand approach to time periods that may be slower for business, says John Zimmer, cofounder of Zimride which owns Lyft. It’s a feature he believes will set Lyft apart. Read more…

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