Airbnb has opened up a gold mine of income for people who have extra space in their homes to rent. But what does an ad agency do with the extra space it ends up with but doesn't want to release? They sublease it. OK so that's not really the same thing as Airbnb but it's close enough.
Houston-based agency The Company of Others placed the extra 18,000 square feet of office space it had into the sublease market. Houston-based tech startup ChaiOne scooped up 12,000 of those 18,000 square feet, and in the process struck a partnership deal which provides the agency with ChaiOne's mobile app design and development capabilities.
So basically, The Company of Others will take ChaiOne's lease payments and toss them back ChaiOne's way to access mobile capabilities.
Of the move, a spokesman for The Company of Others said: “Collaboration was our core goal, and deciding to move to one floor opened up the opportunity to partner with subtenants that made business sense."