Firstly, don't be too concerned man. Watch the competitor to see how the market reacts to them. If they succeed, chances are better that you will too.
Keep in mind that lots of VC money does not necessarily mean a successful run.
First to market is a bit of a myth, you can do just fine if you don't get there first - just do it better than the rest.
Best of luck with your venture!
S
Firstly, don't be too concerned man. Watch the competitor to see how the market reacts to them. If they succeed, chances are better that you will too.
Keep in mind that lots of VC money does not necessarily mean a successful run.
First to market is a bit of a myth, you can do just fine if you don't get there first - just do it better than the rest.
Best of luck with your venture!
S