"Artnet was founded to bring transparency to the art world, and Artsy-to make discovering and buying art more accessible. Connecting the businesses opens up new possibilities, including modernizing and building upon the art world's most trusted pricing tools."
"We are at a pivotal moment in which data and technology, including artificial intelligence, are transforming every industry. The art world needs companies that can harness these powerful forces for its benefit."
Artnet and Artsy are merging under a unified leadership structure with Jeffrey Yin as CEO and Andrew Wolff as chairman. Wolff acquired majority control of Artsy and brought Artnet private. The two platforms will maintain their distinct identities while combining their strengths. Artnet will focus on journalism, transaction data, and market intelligence, while Artsy will specialize in art discovery and purchasing. This merger aims to modernize pricing tools and improve gallery operations, ultimately benefiting artists and collectors in the evolving art market.
Read at Artnet News
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