Multiply's Joshua Kalms Roots in Advertising Led to a Successful Global Agency

Nearly a century after his great-grandfather's foray into advertising in London, Joshua Kalms, CEO of Multiply, has established a flourishing creative performance agency that spans 13 countries and is now setting up a U.S. headquarters.

Ninety-three years ago, Kalms' great-grandfather opened an advertising agency responsible for promotional rights across the London Underground. While this familial history provided Kalms with an early foundation, his path in advertising took shape amidst a rapidly evolving digital marketplace. From participating in the early days of YouTube to orchestrating campaigns for major brands like Warner Brothers, McDonald’s, and Pepsi, Kalms cultivated a profound interest in the mechanisms of attention in advertising.

“Advertising was always somewhere in the background because of my family history,” Kalms states. “What made it personal for me was realizing how interested I was in the craft of capturing attention and figuring out what makes someone notice an idea.”

This interest propelled him into digital media, where he became one of YouTube's initial partners, later launching his own brands and ultimately leading to the formation of his agency. In 2020, Kalms and his co-founder launched Multiply from the ground up, beginning with no external funding or clients. Fast forward six years and the agency has generated over $15 million in revenue, maintaining a fully bootstrapped operation with a remote team spanning 13 countries.

“With no funding, no clients, and no safety net, we had to build from the work we could win and deliver,” Kalms explains. “We were starting from zero.”

A pivotal decision arose as Multiply began operations. Initially, the agency accepted a wide array of projects, which, while maintaining workflow, didn’t provide the depth Kalms desired. He and his co-founder made a strategic shift, honing in on creative performance specifically tailored for fintech and AI companies.

“Saying yes felt productive for a long time because work was coming through the door,” he admits. “The harder realization was that being busy and becoming better at something are not necessarily the same thing. We had to decide where we wanted to develop real depth.”

This narrowing of focus was not without its challenges, particularly during a period when the company was still building a reputation without outside investments. However, Kalms recognized that each category of client presented a unique opportunity to innovate and develop expertise.

“Once we narrowed the field, we were solving related problems again and again,” he notes. “That repetition gave us the depth we could never have developed while trying to serve every type of company.”

This strategic focus has attracted more of the clients Multiply aimed to partner with, including collaborations with over 10 unicorn companies and well-known entities like Monzo and Emirates NBD.

“We spent the early years taking any opportunities that came to us, and there’s a necessity for that at times,” Kalms remarks. “Eventually, you have to decide what you want to become known for. Turning away revenue was uncomfortable, but specialization gave us a much clearer direction.”

The structure of Multiply also evolved uniquely, diverging from the traditional agency model centered in one location. Kalms believes the fully remote arrangement offers advantages; geographical boundaries do not limit recruitment, allowing the company to seek talent suitable for the work from anywhere in the world.

“Being remote means location does not dictate who can join the team,” he says. “We can look for the person we believe is right for the work wherever they happen to be.”

However, operating remotely does present its complexities. Kalms identifies culture, communication, and consistency in quality as key areas requiring diligent management when team members are not physically together.

“A distributed company does not run well just because everyone has the right technology,” he cautions. “You have to think carefully about communication and how you maintain the same expectations for the work when people are spread across countries.”

As Multiply advances, Kalms is preparing for a pivotal transition by establishing a U.S. headquarters. This move is strategic, as most clients so far are based in the United States, placing Multiply closer to the companies it already serves.

“The business was built internationally from the start, and that remains part of how we operate,” he affirms. “The U.S. move is about being closer to the companies we already work with and building a team that can be in the same room with them.”

This expansion follows a series of defining decisions that have gradually clarified Kalms' vision for Multiply. The agency has been built from initial challenges, emphasizing specialized expertise, remote team structures, and a new physical presence in the U.S.

The advertising landscape that Kalms first encountered through his family legacy seems worlds apart from the agency he operates today. His great-grandfather navigated advertising space on public transport, while Kalms thrives in a global digital marketing environment.

For him, the connection spans beyond the platforms and tools—it's in the essence of crafting compelling narratives.

“The tools change, the platforms change, and where people spend their attention changes,” he reflects. “What keeps me interested is the question underneath all of it: how do you make something worth someone’s attention? That is the part of advertising I have never stopped wanting to understand.”