Power Pitch: Artspace
Name / Title / Company:
Catherine Levene, Artspace CEO & co-founder
What is the mission of your company?
To offer collectors and aspiring collectors the opportunity to discover, learn about, and collect art from the world's top contemporary artists in a single location and at insider prices.
Explain your business model—how do you make money?
We sell works on behalf of galleries, museums and artists directly, and we are a success-based model. We get paid if we sell the work. Our museum, artist and gallery partners get to showcase their work and their programs to a worldwide audience, and we take a commission if we sell the work.
Who do you compete with in this space and how are you different?
It's hard to state direct competitors because just about everyone in the online art space right now is doing something different. While other start-ups like Artsy and Paddle8 are helping to bring the art industry online—just as we are—neither of them are offering the ability for users to come to the site and buy art directly, which is exactly what you can do at Artspace.
Artspace curators collaborate with internationally renowned artists, museums, galleries, and art fairs to provide the world's best collection of contemporary art online, in a single location. Artspace serves as a trusted art adviser offering information and education on every featured artist and work on the site in order to provide members with the details they need to make informed and confident purchase decisions.
Where are your headquarters?
New York, NY
# of full-time employees?
March 29, 2011
I was COO and general manager of DailyCandy. Prior to this, I was the senior vice president of product and general manager of content and distribution at TheFind.com. I also worked for seven years at New York Times Digital (NYTD) where I helped build the online properties of the New York Times Company, including NYTimes.com.
Key Investors & Funds Raised:
Artspace has raised $12.2 million from venture capital firms and angel investors, including former COO of AOL Time Warner Robert Pittman, co-founder of Electronic Arts Tim Mott, Canaan Partners, Accelerator Ventures and Metamorphic Ventures.