You actually started first but someone else does it first. do you still launch as competition or quit give up and go back in the closet ?
Yes for sure keep going! The competitor may fail and you may prevail. Just make sure to have great marketing so that people see you as the better option, even if in reality you are both the same option.
The competition is tight for that and there so many taken ideas has been implemented and runned by numerous business man here but the competition will be judge based on the uniqueness on one businesses since if he catch the trend and do something new with his business then he could earn huge success with that. And money will be needed unto this so that those business implementor could widen their marketing strategy to gain more success.