Paul Müller, Adjust: How to Retain Control as a Founder While Still Growing Fast

About this episode

Paul Müller is one of the two founders and current CEO of Adjust. In early 2021, the Berlin-based company made headlines when it was sold to AppLovin for one billion dollars – an impressive exit for the mobile marketing analytics company.

What makes Paul Müller's founding journey particularly interesting, however, is not just the successful exit, but rather the way he and his co-founder Christian approached building Adjust. The two consciously made decisions that went against the grain of typical startup wisdom.

A Different Path to Success

The startup scene often preaches that founders should quickly bring investors on board, give up control, and rely on external capital to scale. Paul and Christian chose a different approach: they made sure to retain control over their company and continue making strategic decisions as a founding team.

This approach may seem counterintuitive when you consider that Adjust still achieved impressive growth. The company managed to develop into one of the leading providers of mobile marketing analytics while preserving its independence.

Retaining Control Without Sacrificing Growth

The central question arising from Paul Müller's experience is: How do you manage to retain control over your own company while still growing quickly? Finding this balance is one of the biggest challenges for founders.

Many startups face the dilemma of having to sacrifice either growth or control. External investors bring capital and often valuable expertise, but they can also limit founders' decision-making freedom. Paul and Christian proved that it's possible to combine both.

Strategic Decision-Making Within the Founding Team

Another important aspect of Adjust's success story is how strategic decisions were made. Instead of delegating this responsibility to external advisors or investors, Paul and Christian took the important strategic decisions into their own hands.

This approach requires not only professional competence but also the courage to take responsibility and forge your own path. It shows that founders are not necessarily dependent on the "proven" paths of the startup world.

Lessons Learned for Other Founders

Paul Müller's experience with Adjust offers valuable insights for other founders wondering how to build their company. The billion-dollar exit proves that alternative approaches to company building are not only possible but can also be extremely successful.

For founders in similar situations, the Adjust story shows that it can be worthwhile to swim against the current and forge your own path. The key is finding the right balance between control and growth – a task that Paul and Christian have obviously mastered.

The Adjust story is therefore not just a success story, but also a lesson that there is more than one path to success in the startup world.