Online arts auction platform Auctionata has laid off more than half of its employees yesterday, Art Info reports, part of a strategy by the company to focus on cost-efficiency.  Since launching less than three years ago, the company has raised nearly $100 million in capital, including recent funding of almost $50 million. (more…)

As the Institute of Contemporary Art in Miami prepares its launch party tomorrow night at its temporary site in Miami’s Design District, the museum has released its plans for a 37,500-square-foot, privately funded permanent home in the area.  The museum is funded by car dealership billionaires Irma and Norman Braman.  “We love this museum, and we felt it was the right time, and the right place, and with the right museum,” says Ms. Braman, who also serves as co-chairwoman of the city’s museum’s board. (more…)