Georgina Adam asks the straight-forward question: how will Artnet, which has been losing money, finance its expansion into art world news?
[Artnet CEO Jacob] Pabst says: “I am asking myself the same question, but we have a business plan and I have found a good and safe way to do it; we expect to increase revenue through advertising and we can always inject cash.”
Essentially, this means that [Hans] Neuendorf, who remains the main shareholder, will continue to prop up the company – in March this year he gave $641,000 to Artnet.
Sotheby’s agrees to return 10th-century Cambodian statue (Financial Times)
