Let this be a lesson to anyone working on a product. I've been building an app that does exactly the same thing for the last couple of months. You have to be first to market.
Hey -- neither of us is first to market on this one. I found out of others even as I was building it. I almost gave up but then figured I might as well go for it. I address this in the post -- the market it young and is ripe for plenty of products.
Did Apple make the first mp3 player? Did Google make the first search engine?
The point is his app is nowhere near critical mass and there is likely a fair amount of room for competition. Think of his success as proof there is a demand for apps like his (and yours).
Why do you have to be first to market? I too have started building this very app and still plan to finish it. There are a thousand factors that determine how your app/business progresses. Market timing is just one small one.