Pieter van der Does — The decisions behind Adyen

Selling a first payments company, starting again and growing into a listed payments platform for global brands. Which decisions made the difference?

Pieter van der Does started Adyen at the end of 2006 with, among others, Arnout Schuijff, after they had sold their earlier payments company Bibit to a large bank. In this independent FOREFACT publication you discover why Adyen built everything itself, served smaller online businesses first before bringing in big brands, obtained its own banking licences and listed on Euronext Amsterdam in 2018.

The setbacks are covered too: the hiring spree and the share price fall of more than 38 per cent in 2023, the lowered growth outlook in 2025 and the question of why a company that for years prided itself on building everything in-house still made two acquisitions in 2026 and dropped its margin target.

From story to practice

This is more than a founder biography. As you read, you make decisions yourself. Six Decision Labs help you assess a takeover bid, weigh building against buying, measure customer concentration, run the numbers on a licence, hire staff in tranches and take a critical look at an acquisition. Each Lab contains theory, a fictional calculation case, a decision rule and a setback.

What do you get?

• 42 pages with the full founder story.

• Eight chronological chapters on how Adyen developed.

• Six Decision Labs with business theory and fictional worked examples.

• Twelve digitally fillable worksheet pages with 24 fields in total and answer checks.

• A six-week Reality Test to apply the lessons yourself.

• A historical timeline and a box on what’s different in the Netherlands.

• 37 source references for further reading and verification.

Who is this guide for?

For entrepreneurs, people starting out and curious readers who want to understand the choices, risks and trade-offs behind a large Dutch technology company.

You don’t just read how Adyen grew. You examine which decisions, risks and lessons you can apply yourself.

Digital product · 42 pages · PDF · Available immediately after purchase

This publication was developed independently by FOREFACT and is not affiliated with, sponsored by or endorsed by Pieter van der Does, Arnout Schuijff, Ingo Uytdehaage, Adyen or any affiliated companies.