Since its inception, the firm experienced high growth and was in a strong position by but needed capital in order to secure growth on the market and scale their operations which were lacking severely at that point. Eventually, such was their market that ruled the roost and became the top grossing application on the Apple iOS store. As it turned out the company was spending too much on expansion and over hiring, which drained resources immensely and affected their profits significantly. A major chunk of this was down to the startup philosophy that profits do not matter; a theory which makes it extremely difficult to survive in the long-run as a firm will not succeed if does not make money.
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