will set new standards for artistic content across the visual and performing arts online


NEW YORK, June 4, 2001—The Solomon R. Guggenheim Foundation today announced the formation of (, a new online destination for the visual and performing arts, due to launch in Fall 2001. will be a collaboration of the Solomon R. Guggenheim Foundation, with museums in New York, Venice, Bilbao, and Berlin; The State Hermitage Museum in St. Petersburg; The Albertina in Vienna; The Kunsthistorisches Museum in Vienna; and the Zentrum fur Kunst und Medientechnologie/Center for Art and Media in Karlsruhe, Germany.

"The rich content and extensive curatorial expertise of the participating institutions, represent a breadth and depth of collection and programming content in the visual arts that is virtually unsurpassed," said Thomas Krens, Director of the Solomon R. Guggenheim Foundation. "Combining's design excellence and technical capabilities with these unique partner alliances, provides—at one address—an unprecedented flow of digital information on all aspects of culture."

Through a masterful integration of culture and technology, will set new standards for presenting artistic content online and move beyond national boundaries to reach a global audience. will deliver an unparalleled user experience across the cultural landscape by creating a sophisticated, spatially designed environment utilizing the highest possible production values and implementing the most advanced technology.

The site will deliver a comprehensive menu of programs, services, and commercial opportunities. Visitors to the site will find content across all genres of culture organized into several different categories for easy and quick exploration, including: visual arts, performing arts, news and information, travel, and a wide range of e-commerce and related opportunities.

Joining in this new enterprise are Pequot Private Equity, Softbank Venture Capital, and GE Equity. will be a for-profit entity, completely separate in management and operations from the Guggenheim Foundation. The company will generate revenues from multiple channels, including advertising and sponsorship, content subscription, syndication and e-commerce.

In addition to Mr. Krens, who will serve as Chairman and interim CEO of, the management team includes:

# Judith Cox, President and Chief Operating Officer
Ms. Cox joined the Solomon R. Guggenheim Foundation as General Counsel in 1991, and served as Deputy Director prior to joining

# Hani Rashid, Chief Creative Officer and Chief Technology Officer
Mr. Rashid is the co-founder of Asymptote, the award-winning New York City–based architectural and interactive digital design firm. He is a leading figure in the field of architectural design, digital interactive environments, and spatial experimentalism.

# Nancy Newman, Senior Vice-President of Sales and Marketing
Ms. Newman was formerly Executive Vice-President for Integrated Client Services at Ziff-Davis, Inc. where she was responsible for formulating and executing client media strategies across all platforms, including publishing, Internet, television, trade shows, online education, and market intelligence. Prior to this, she was Senior Vice-President and Publishing Director for PC Magazine.

# Heather MacIsaac, Design Director, Retail
Ms. MacIsaac has spent 20 years in lifestyle publishing, most recently as Home Editor at Martha Stewart Living Omnimedia. Prior to this, she was Creative Director at Travel & Leisure Magazine and Design and Living Editor at House & Garden.

Founded in May 2000, has offices on Wall Street in Lower Manhattan and a staff of 61 people, whose expertise includes design, content, technology, and sales and marketing.

Information Regarding the Participating Institutions

The State Hermitage Museum
With over three million objects in permanent collections, The State Hermitage Museum in St. Petersburg is one of the greatest museums in the world. The works range from The Stone Age to the beginning of the 20th Century, including Middle Eastern and Egyptian, arts and artifacts of Greek and Roman antiquity, Islamic and Oriental art, Italian Renaissance art, Flemish painting, and 19th- and 20th-century art. Its collection includes masterpieces by Giorgione, Leonardo, Michelangelo, Raphael, Rembrandt, and Titian. Its extensive collection of French paintings includes major holdings of works by Degas, Gauguin, Matisse, Monet, Picasso, Renoir, and van Gogh. The Hermitage recently opened exhibition facilities in London at Somerset House, and will be opening additional exhibition space in Amsterdam in 2006. The Hermitage, in collaboration with the Guggenheim Museum, will also open a new museum in Las Vegas in 2001.

Kunsthistorisches Museum
Assembled by the Habsburgs over the centuries, the Kunsthistorisches Museum's collection ranges from Egyptian, Near Eastern, Greek and Roman Antiquities, early Netherlandish painting and Flemish art, splendid Italian Renaissance and Baroque collections, sculpture and applied arts, to ecclesiastical and secular treasuries. The Kunsthistorisches boasts the largest collection of paintings by Bruegel in the world, as well as masterpieces by Cranach, Dürer, van Eyck, Holbein, Mantegna, Poussin, Raphael, Tinteretto, Titian, Velazquez, Vermeer, and van der Weyden.

The Albertina
With more than one million works on paper, The Albertina has a reputation of having the greatest collection of prints and drawings in the world. Located in the heart of Vienna, the Albertina collection comprises more than 65,000 drawings and approximately one million prints from all major regions of artistic production. The collection, which began with works on paper and was assembled by founder Duke Albert von Sachsen-Teschen (1732–1822), has grown to incorporate impressive collections of photography, architecture, and contemporary art. The Albertina collection contains extraordinary works of art by the greatest masters of past centuries including Raffaelo Santi, Michelangelo Buonarott, Leonardo da Vinci, Albert Durer, Rembrandt van Rijn, Claude Lorrain and Gustav Klimt.

The ZKM in Karlsruhe is the world's largest specialized institution of electronic art and media technologies. Founded in 1980, ZKM opened to the public in 1997 with a major new facility of more than 500,000 square feet and an unprecedented investment in technology, both hardware, software, and personnel. With its focus on new media and information technologies, it unites production and research, exhibitions and events, education and documentation. Its institutional scope includes a Museum of Contemporary Art, the Mediamuseum, the Institute for Image media, the Institute for Media and Acoustics and the departments for Research and ZKM Online/Institute for Netdevelopment. It houses production and performance facilities, which include one of the world's largest collections of electronic music in the world.

The Solomon R. Guggenheim Foundation
Established in 1937, the Solomon R. Guggenheim Foundation operates an international network of museums, including the Solomon R. Guggenheim Museum and Guggenheim Museum SoHo in New York; Guggenheim Museum Bilbao; Peggy Guggenheim Collection, Venice; Deutsche Guggenheim Berlin; and Guggenheim Las Vegas and Guggenheim Hermitage Museum in Las Vegas (to open in Fall 2001). The Foundation's mission is to collect, preserve, present, and interpret modern and contemporary art and culture. The Guggenheim maintains a premier collection of late 19th- and 20th-century art, with significant holdings of artworks by Beuys, Brancusi, Cézanne, Chagall, Kandinsky, Klee, Léger, Picasso, Pollock, Rauschenberg, and Serra, among many others.

Information Regarding the Investors

Pequot Private Equity
Pequot Private Equity is the venture capital arm of Pequot Capital Management, Inc., a leading investment firm with more than $10 billion under management in 23 funds. Leveraging Pequot Capital's in-depth global research, market access and proven lifecycle investment expertise, Pequot Private Equity helps early-stage start-ups and emerging companies build a sustainable competitive advantage in fast-moving technology markets. Pequot Private Equity invests in young and growing companies pursuing leadership in such dynamic market sectors as telecommunications and network infrastructure, eBusiness, and technology-enabled healthcare. Pequot Capital manages investments across all stages of a portfolio company's growth, from start-up to maturity. Pequot Capital is 100% employee-owned and has offices in New York, Westport, and San Francisco. For more information, please visit

GE Equity
GE Equity, a subsidiary of GE Capital, is the private equity arm of GE. GE Capital, with assets of more than US $370 billion, is a global, diversified financial services company grouped into six key operating segments comprised of 24 businesses. A wholly-owned subsidiary of General Electric Company, GE Capital, based in Stamford, Connecticut, provides a variety of consumer services, such as credit cards and life and auto insurance; mid-market financing; specialized financing; specialty insurance; equipment management, and specialized services, to businesses and individuals in 47 countries around the world. GE is a diversified services, technology and manufacturing company with operations worldwide. For more information on GE Equity please visit us at

SBVC works with the best entrepreneurs to create the most powerful companies of the Internet economy. SBVC has $2.5 billion under its management, over 150 leading Internet companies in its portfolio, and an unparalleled investment team of former CEOs and entrepreneurs, technology pioneers, senior executives from major technology corporations, and leaders from the investment banking community. Companies in its portfolio include Art Technology Group, E*TRADE, Interliant,, Net2Phone, PeoplePC, Preview Systems, and TeraBeam Networks. For more information, visit

June 4, 2001

For Press Information: Betsy Ennis/Sasha Nicholas
Department of Public Affairs
Solomon R. Guggenheim Museum
Telephone: (212) 423-3840
Telefax: (212) 423-3787
E-mail: or

Chris Milligan/Marya Pongrace
PepperCom for
Telephone: (212) 931-6161/-6142
E-mail: or

Sheryl Draizen
Telephone: (212) (917) 637-4161

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