While you're statement is true in a general sense, in this specific situation, CodeUpstart was founded by someone who worked for Code4Startup for only a few weeks.

I follow Leo on Twitter, and there's plenty of evidence.

Working together: https://twitter.com/gilliantee/status/659751559622885377

Not working together: https://twitter.com/eugeneteo/status/678373859838459904

A similar idea is fine, but this doesn't look like a coincidence.