The First Art Newspaper on the Net   Established in 1996 United States Tuesday, May 22, 2018


Leonardo DiCaprio invests in Magnus app
The Magnus app aims to democratize the $44 billion global art market, which, according to the TEFAF Art Market Report 2017, has only slowly embraced technology with an online share of only 8.4%.


NEW YORK, NY.- Magnus, the app dubbed “Shazam for Art”, today announced it has closed a Series A investment round from a group of investors, including Leonardo DiCaprio, who also joins as an advisor to the company.

Magnus follows a similar concept to the popular audible-based search company Shazam. Users upload a photo of an artwork and the app returns the details, such as the artist’s name, title of the work and price. Magnus’ leading technology covers over 20,000 galleries, museums, and auction houses around the world. Its database consists of over 10 million images. The app can be downloaded for free in the Android and Apple app store.

The Magnus app aims to democratize the $44 billion global art market, which, according to the TEFAF Art Market Report 2017, has only slowly embraced technology with an online share of only 8.4%. Other online players at the threshold of art and technology, such as Artsy (who have recently raised $50M in Series D funding) or Artnet (a publicly listed company) have proved an increasing interest among investors and collectors in the online art market.

“Our goal is to make the art market more transparent, open and honest. We love working with our great investors who are passionate about our mission and are equally experienced in the market,” said Magnus Resch, founder and CEO. “In 12 months we have grown our user base to become one of biggest apps in the art world. This funding allows us to continue our international expansion and offer new services for art lovers.”

Mr. DiCaprio commented on his decision to join Magnus as an investor and advisor, saying: “Visual art is a powerful tool for spreading ideas, memorializing history and bringing people together around a common purpose. I am proud to partner with Magnus as the app continues to educate people everywhere about the art around them.”





Today's News

February 7, 2018

Rembrandt etchings brought together in exhibition at Allen Memorial Art Museum

Monumental Matador by Picasso - unseen since 1973 - makes auction debut

Leonardo DiCaprio invests in Magnus app

MIT List Visual Arts Center opens "Before Projection: Video Sculpture 1974–1995"

Department of Asian Art at The Met to co-host reception with Asia Week New York

Brightly colored, large-scale paintings by Volker Hüller on view at Van Doren Waxter

Simon Fujiwara installs a full-scale replica of the Anne Frank House Museum at Kunsthaus Bregenz

Saint Peter's Church kicks off Lenten season with surrealist art installation by Richard Hagerty

Paris opens a door to exiled artists

Sorolla masterpiece study offered at Bonhams 19th Century Art sale

Expansive retrospective of works by Royal Academician Gus Cummins on view at Jerwood Gallery

Spanish artist José María Sicilia opens exhibition at Galerie Chantal Crousel

Retrospective of Todd Oldham's exuberantly styled and deliriously embellished fashion opens at the Wex

Greenwich Historical Society to restore and expand Impressionist era gardens

Sargent's Daughters opens a solo exhibition of new works by Chris Oh

Suffragette stories come out of the shadows 100 years on

Bonniers Konsthall opens the most comprehensive solo exhibition of artist Jens Fänge to date

Qatar stadium designed by Zaha Hadid built 'by end of year'

Unassuming Chinese porcelain bowl soars to $200,000 at Nye & Company's Jan. 31 auction

Marco Fazzone appointed as Director of the FIFA World Football Museum

Jason Jacques Gallery exhibits works by Eric Serritella

Vintage posters featuring the Gail Chisholm Collection offered at Swann Galleries

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