My brother and I created a very popular website a couple of years ago called Oracle of Legends. It was a League of Legends fansite with a LOT of features that are now copied elsewhere.
https://web.archive.org/web/20120509003942/http://www.oracle...
Loking.net didn't have the skin viewer it now has. They saw our skin viewer (granted it wasn't "ours") and built one themselves.
Ultimately a large team funded by ZAM Network's limitless supply of money won over two guys in South America with limited time and money.
My brother and I are now a powerhouse though, and we're building a new website for a new game we enjoy playing. THIS time, I don't care if the competition has more money, we'll win through sheer excellence and localization (something large websites from ZAM don't have).
It was a great experience for me and it landed me a lot of contracting work. :)