I can't even imagine how a simple product such as theirs would even require 350 employees to operate it
The more people you have, the more managers you have, the more you need to communicate, the more people you need. It's a death spiral
A common failure of most businesses is when they become a pyramid-building enterprise with the inertia of an aircraft carrier powered by oars.
Small teams of can get shit done-ers should expand slowly with continued success, and broken up before they get too big to stay nimble with the support of a common platform of business functions. Virgin Group was the best example of this.