As a start-up around 400 people, it has as much red tape as a Fortune 500 Bank or Oil and Gas company.
To start a project, people have to collect more than a dozen of sign-offs from each functions. Many people without sufficient knowledge can jump in say no just because they worry about the possible negative impact to themselves. If something bad really happens, all of these people either disappear or point fingers. They definitely didn't work for the best interest of the company but for their own groups or themselves.
App Annie also lacks a strong momentum on the engineering side. The product roadmap is revised every week to extend more time for new product development. Tons of money was spent to get a key product but they ended up buying another company for the technology.