Once you have a leading position in this markets it's very hard to change it. The network effects and chicken-egg problem gives you huge competitive advantage.
In Poland we had ebay clone (allegro.pl) several years before ebay. Then ebay tried to enter the market several times, failed each time. There also were several other startups trying to conquer this space with much lower fees, but they also failed.
In Poland we had ebay clone (allegro.pl) several years before ebay. Then ebay tried to enter the market several times, failed each time. There also were several other startups trying to conquer this space with much lower fees, but they also failed.