Artsy, birthed in 2009 by Carter Cleveland in his Princeton dorm, aimed to revolutionize how the world buys art. Known as the digital darling of the art market, it brought galleries, collectors and dilettantes into one sleek online space. A defining moment came in 2017 when Artsy raised $50 million, thrusting it into the limelight and valuing it at a cool $275 million. Despite its lofty mission, Artsy faced turbulence; the departure of key executives like COO Sebastian Cwilich and allegations of unethical practices cast shadows over its pristine galleries. CEO Mike Steib, previously with XO Group, now steers this digital canvas through the often cutthroat art world. Artsy boasts partnerships with major institutions and a vast digital library, earning accolades for democratizing art access. However, whispers of favoritism and pay-to-play schemes continue to dog its footsteps. With its blend of high-tech innovation and traditional snobbery, Artsy remains a polarizing yet undeniable force in the art market, proving that in the business of culture, the brushstrokes of controversy and triumph often blur together.
