Digital ridesharing platforms have been identified as a broader part of innovations that make up the so-called sharing economy. The paper presents an overview of the current research on the development of ridesharing business and potential opportunities that can be leveraged to enhance the performance of the industry. Becoming successful entrepreneurs is the dream of a vast majority of the population globally. However, prospective entrepreneurs face diverse challenges, ranging from the development of the idea to capital acquisition. Successful implementation of a business idea by establishing a business venture has become a gateway to emergence of huge international corporations. Our business is a start-up firm in the ridesharing business. The company is called Carmony, and the initial capital for its establishment will be obtained from shareholder contribution as well as borrowing from the lending institutions. Lyft and Uber are the major competitors of this company, but its strategy will enable it to survive and attain its main goals. The company will utilize a market gap identified through complex analysis and anticipates achieving break-even point after two years of operation. The success of this firm will be based on its continued exploitation of its core competencies and generic growth strategy.
