Artnet and Artsy Merge Under Beowolff Capital, Face Uncertain Future

Last week, Beowolff Capital, under the leadership of Andrew Wolff, finalized the merger of Artnet and Artsy. Jeffrey Yin, the CEO of Artsy, will manage both entities moving forward. The restructuring process has commenced, leading to job cuts, including a minimum of seven positions at Artnet News, and the shutdown of Artnet's Berlin office. The total number of layoffs remains undisclosed. Wolff is determined to uphold Artnet's position as a leader in art market reporting despite the downsizing. Artnet boasts 18 million auction results, while Artsy specializes in primary market insights. Artnet incurred a loss exceeding $1 million in Q1 2025, and Artsy has accumulated over $130 million in funding since 2009 without turning a profit. Wolff intends to enhance data services and financial products for the art sector.