INDUSTRY NEWS

IdeaPaint plans new office in London

Boston based, IdeaPaint has announced plans to open a London office in 2015.

The firm made more than $10m in revenue during 2014 due to growing demand for its product.

The product IdeaPaint sells is a single-coat, roller-applied paint that transforms almost anything into a dry erase surface. The clever paint is currently used in 100,000 locations around the world. Famous offices which use the paint include the offices at Facebook, AOL and Google. The paint is also used on walls in classrooms and homes.

Discussing the innovative product, IdeaPaint president John Stephans said: “Companies are looking to drive better communication, faster idea-generation and collaboration.”

“One of the ways to do that is to create spaces that allow for casual collisions of idea generation to happen, and we allow that.”

IdeaPaint which opened in 2008, currently has around 40 employees, half of which reside at the firm’s Boston headquarters (previously in Ashland).

The firm plans to increase its staff by up to 50 per cent next year as it estimates a further increase in demand for its product.

It is expected that the London office will not be as big as the Boston office at 7,600 sq ft but will be around 2,000 sq ft.

By: Kirsty MacGregor

News bought to you from DeVono Cresa, the award-winning commercial property advisers, specialising in Central London office, retail and leisure space.

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