Artsy (website)
{{Short description|Online art brokerage}}
{{Use mdy dates|date=March 2020}}
{{Infobox company
| name = Artsy
| logo = Art.sylogo 2.tiff
| logo_size = 240px
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| founder = Carter Cleveland
| defunct =
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| key_people = {{Plainlist|
- Jeffrey Yin, CEO
- Carter Cleveland, founder, and executive chairman
- Sebastian Cwilich, co-founder and former president and COO
- Devang Thakkar, former VP of Marketplace and Head of Auctions
- Wendi Murdoch, co-founder and board director
- Dasha Zhukova, co-founder and investor}}
| industry =
| genre = {{Unbulleted list|Art website|collaborative consumption|online fine art marketplace}}
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| location_city = New York City
| location_country = United States
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| homepage = {{URL|https://www.artsy.net/}}
}}
Artsy, formally known as Art.sy Inc is a New York City based online art brokerage.{{Cite news|last=Razumovskaya|first=Olga|date=2017-07-18|title=Artsy Draws $50 Million in Funding|language=en-US|work=Wall Street Journal|url=https://www.wsj.com/articles/artsy-draws-50-million-in-funding-1500377400|access-date=2021-03-07|issn=0099-9660}} Its main business is developing and hosting website for numerous galleries as well as selling art for them.{{Cite web|title=Online art marketplace Artsy raises $50M at $275M valuation to double down on auctions|url=https://techcrunch.com/2017/07/18/online-art-marketplace-artsy-raises-50m-plans-to-double-down-on-auctions/|access-date=2021-03-08|website=TechCrunch|date=July 18, 2017 |language=en-US}} It utilizes a search engine and database to draw connections and map relationships among works of art.{{cite web|last=Chad Hanna|first=James|title=The Power of Suggestion|url=http://www.blouinartinfo.com/news/story/36888/the-power-of-suggestion|url-status=dead|archive-url=https://web.archive.org/web/20160313061342/http://www.blouinartinfo.com/news/story/36888/the-power-of-suggestion|archive-date=March 13, 2016|access-date=February 3, 2011|website=www.blouinartinfo.com|publisher=BLOUINARTINFO}}
The brokerage was founded by Carter Cleveland, a Princeton University computer science graduate.{{cite news|last=Miller|first=M.H.|title=Point, Click, Collect: Art.sy Brings the Art World Online… Again|url=https://observer.com/2011/06/point-click-collect-art-sy-brings-the-art-world-online-again/|date=June 14, 2011|work=The New York Observer|department=START-UPS|language=en-US|lccn=sn88099997|issn=1052-2948|oclc=1010541123|access-date=June 14, 2011}} It is currently led by Jeffrey Yin, who was appointed CEO in June 2024.{{Cite web |last=Cassady |first=Daniel |date=2024-06-17 |title=Artsy CFO Jeffrey Yin Moves into Chief Executive Role |url=https://www.artnews.com/art-news/news/artsy-jeffrey-yin-ceo-mike-steib-departs-1234710004/ |access-date=2024-07-05 |website=ARTnews.com |language=en-US}}
History
File:ARTSY Headquarters (35063018534).jpg
Carter Cleveland, the son of an art historian,{{Cite magazine|last=Shnayerson|first=Michael|date=March 15, 2018|title=Artsy's Wendi Murdoch Just Wants to Sell You a Painting|url=https://www.townandcountrymag.com/leisure/arts-and-culture/a18929591/wendi-murdoch-interview-artsy/|magazine=Town & Country|language=en-US|publication-date=April 2018|issn=0040-9952|lccn=57039998|oclc=760318372|access-date=May 9, 2019}} founded Artsy during his senior year at Princeton University and worked on the site from his dorm room.{{cite magazine|last=Allison|first=Chelsea|title=New Deal: Art.sy's Innovative Online Take on Contemporary Art Sales|url=http://www.vogue.com/culture/article/new-deal-artsys-innovative-online-take-on-contemporary-art-sales/#1|access-date=August 31, 2012|magazine=Vogue|lccn=08036997|issn=0042-8000|oclc=812147634|date=November 28, 2011|url-status=dead|archive-url=https://web.archive.org/web/20120918232825/http://www.vogue.com/culture/article/new-deal-artsys-innovative-online-take-on-contemporary-art-sales/#1|archive-date=September 18, 2012}} Cleveland's goal was for the site to serve as a place where users could discover art online.{{cite magazine|last=Wallis|first=Stephen|title=Who is Art.sy?|magazine=Art in America|date=June–July 2011|lccn=14011738|issn=0004-3214|oclc=818946839|language=en-US}} In May 2010, Artsy participated in the New York City conference, TechCrunch Disrupt, where they competed in the Startup Battlefield and received the Yahoo! Rookie Award!{{cite web|title=Yahoo! Disrupts TechCrunch|url=http://ycorpblog.com/2010/05/26/tcdisrupt/|website=ycorpblog.com|date=May 26, 2010}} A year later, the team demoed Artsy at the Beyeler Foundation at Art Basel (June 15, 2011).{{cite web|title=Dasha Zhukova's Art.sy Site Launches to Celeb-Packed Crowd|url=http://blogs.artinfo.com/artintheair/2011/06/15/dasha-zhukovas-art-sy-site-launches-to-celeb-packed-crowd/|website=blogs.artinfo.com|date=June 15, 2011|url-status=dead|access-date=August 31, 2012|archive-url=https://web.archive.org/web/20120820104318/http://blogs.artinfo.com/artintheair/2011/06/15/dasha-zhukovas-art-sy-site-launches-to-celeb-packed-crowd/|archive-date=August 20, 2012}}{{cite magazine|last=Mufti|first=Shahan|title=Art.sy's 'Genome' Predicts What Paintings You Will Like|url=https://www.wired.com/2011/11/mf-artsy/|magazine=Wired|date=November 23, 2011|language=en-US|lccn=94659076|issn=1078-3148|oclc=24479723|access-date=March 9, 2020}}
In November 2011, Artsy closed a round of financing from Eric Schmidt, Wendi Deng Murdoch, Dasha Zhukova, Larry Gagosian, Jim Breyer, Joshua Kushner, Jack Dorsey, Chris Dixon, and Dave Morin.{{Cite web |last=Frommer |first=Dan |title=Eric Schmidt, Wendi Murdoch, And Other Huge Names Are Betting On Art.sy To Shake Up The Art Market |url=https://www.businessinsider.com/artsy-funding-2010-11 |access-date=2024-03-25 |website=Business Insider |language=en-US}}
In 2019, it was reported that in 2018 the data for 1,070,000 accounts were stolen from Artsy.{{cite web |title=Artsy Alerts Users of Data-Security Breach; Report Claims Hacked Information for Sale |first=Chris |last=Williams |date=February 11, 2019 |publisher=The Register |url=https://www.theregister.co.uk/2019/02/11/620_million_hacked_accounts_dark_web/ |access-date=May 26, 2020}} The information included the name, email address, location, IP address and password SHA-512 hashed with a salt. The passwords were not stored in cleartext, but an email from Artsy encouraged users to change their passwords.{{cite web |title=Artsy Alerts Users of Data-Security Breach; Report Claims Hacked Information for Sale |first=Alex |last=Greenburger |date=February 14, 2019 |publisher=ARTnews |url=https://www.artnews.com/art-news/news/artsy-data-stolen-security-incident-11904/ |access-date=May 26, 2020}}
Corporate affairs
=Financials=
Since launching, Artsy has raised a total of $100 million from individuals in the worlds of art, tech, and media.{{cite news|last=Voien|first=Guelda|date=February 6, 2017|title=As Online Art Auction Space Shrinks, Is Artsy the Heir Apparent?|language=en-US|work=Observer|url=https://observer.com/2017/02/as-online-art-auction-space-shrinks-is-artsy-the-heir-apparent/|access-date=March 7, 2017}}{{cite web|url=https://techcrunch.com/2011/11/03/art-sy-6-million-thiel-thrive-murdoch-zhukova/|title=Art.sy Raises $6 Million Series A From Peter Thiel, Thrive Capital, Wendi Murdoch And Dasha Zhukova|last=Schonfeld|first=Erick|date=November 3, 2011|website=TechCrunch|access-date=August 31, 2012}}
=Products (website and app)=
Artsy currently features over 1,000,000 works by 100,000 artists on its site through partnered galleries.{{Cite news|url=https://www.nytimes.com/2015/11/01/arts/design/purchasing-fine-art-is-increasingly-just-a-click-away.html|title=Purchasing Fine Art Is Increasingly Just a Click Away|last=Goel|first=Vindu|date=October 28, 2015|newspaper=The New York Times|access-date=July 25, 2016|issn=0362-4331}}{{cite magazine|url=https://entertainment.time.com/2012/05/25/fine-art-for-everyone-five-cutting-edge-sites-for-collectors-and-newbies-alike/|title=Fine Art for Everyone: Five Cutting-Edge Sites for Collectors and Newbies Alike|last=Hamilton|first=Anita|date=May 25, 2012|magazine=Time}} As of March 2018, Artsy averaged 2.3 million unique visitors each month.{{cite web|url=https://www.bloomberg.com/news/articles/2018-03-27/new-york-s-artsy-is-making-it-even-easier-to-buy-art-online|title=New York's Artsy Is Making It Even Easier to Buy Art Online|last=Schuetz|first=Molly|date=March 27, 2018|website=Bloomberg News|access-date=March 9, 2020}}
=The Art Genome Project=
{{Main|The Art Genome Project}}
When Artsy launched in October 2011, its main product was The Art Genome Project — "an ongoing study of the characteristics that distinguish and connect works of art."{{cite web|url=http://www.psfk.com/2012/03/largest-online-art-database.html|title=THE MOST COMPREHENSIVE ONLINE ART DATABASE MAPS CONNECTIONS BETWEEN WORKS|last=De Leon|first=Don Michael Acelar|date=March 29, 2012|website=www.psfk.com|access-date=August 31, 2012}} A collaboration between art historians and engineers, and led by art historian Matthew Israel, The Art Genome Project drew upon art-historical scholarship and artificial intelligence to assign values to artwork based on eventually as many as 1211 characteristics or "genes."{{cite magazine|url=https://www.departures.com/art-culture/art-design/buying-art-internet|title=Buying Art on the Internet|last=Wolfe|first=Alexandra|date=March 1, 2012|magazine=Departures|access-date=August 31, 2012}}{{cite web|url=http://betabeat.com/2012/03/art-sy-launches-much-anticipated-beta/|title=A Peek at Art.sy's Much-Anticipated Beta|last=Jeffries|first=Adrianne|date=March 23, 2012|website=betabeat.com}} {{Cite news |last=Ryzik |first=Melena |date=2012-10-08 |title=Online, a Genome Project for the World of Art |url=https://www.nytimes.com/2012/10/09/arts/design/artsy-is-mapping-the-world-of-art-on-the-web.html |access-date=2024-07-05 |work=The New York Times |language=en-US |issn=0362-4331}} These categories ranged from color and period to "Technique: Documentary Photography" and "Group Portrait." The Art Genome Project aimed to help users uncover works of art based on personal taste and preference to facilitate the discovery of art. As of 2020 the AGP was on hold for restructuring.
Reception
According to Wired, Artsy "has the potential to introduce each buyer to a wide range of artists and artworks, all of them related in some way and—this is key—most of them unknown and otherwise inaccessible to any but the most knowledgeable connoisseurs."
Critics of Art.sy label The Art Genome Project forced and artificial and point to the difficulty of representing the full experience of art online.{{cite news|last=Hamilton|first=Anita|title=Works for Me|url=http://www.time.com/time/magazine/article/0,9171,2115626,00.html|archive-url=https://web.archive.org/web/20120525021904/http://www.time.com/time/magazine/article/0,9171,2115626,00.html|url-status=dead|archive-date=May 25, 2012|access-date=31 August 2012|newspaper=Time|date=June 4, 2012}}
See also
References
{{Reflist}}
External links
{{Commons category}}
- {{Official website}}
- [https://artsy.github.io/open-source/ Artsy Open Source] on GitHub Pages
- [https://www.artsy.net/categories/ The Art Genome Project]
{{Authority control}}