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Artnet’s Plan to Finance It’s Expansion into News

December 21, 2013 by Marion Maneker

Jacob Pabst, Artnet CEO

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)

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Filed Under: General

About Marion Maneker

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