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Paddle-Ata: Paddle 8 Merges with Auctionata

May 12, 2016 by Marion Maneker

Paddle-ata

The folks at Paddle 8 and Auctionata are very excited to announce that the two platforms—one with strength in Europe and the other with a base in the UK and US—are merging. The announcement comes with a raft of slick publicity materials, including portraits of the founders and the management teams all sharing a satisfied moment. There’s also a video (click through the image above to view) extolling the merger with movie-trailer self-confidence.

ArtNews whose parent company (update: turns out the Paddle8 stake held by ArtNews’s parent company was not acquired with the site) owns shares in Paddle 8 puts the figures more precisely than the company press release:

The deal between the two online auctioneers creates a newly formed company that will lay claim to 793,000 registered users in 200 countries and more than $150 million in joint annual sales, making it, according to a news release announcing the deal, one of the top ten auction houses in the world outside of China.

Paddle 8's Aditya Julka, Auctionata's Alexander Zacke, Paddle 8's Alexander Gilkes and Osman Khan
Paddle 8’s Aditya Julka, Auctionata’s Alexander Zacke, Paddle 8’s Alexander Gilkes and Osman Khan

Auctionata And Paddle8 Will Merge, Marking A Shift In The Online Art Market  (ARTnews)

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