<span class=caption-credit> Reverb</span>
Etsy Sells Reverb: Major Shift in Online Music Gear Marketplace
Key Highlights
- Etsy sells Reverb after six-year ownership
- Original acquisition price was $275 million in 2019
- New investors: Creator Partners and Servco
- Reverb to maintain independent operations
Strategic Transition in Music Gear Marketplace
In a significant development for the online musical instrument marketplace, Etsy has announced the sale of Reverb, a platform it acquired for $275 million in 2019. The deal marks a new chapter for the specialized marketplace, with Creator Partners and Servco stepping in as the new investors.
New Ownership Structure
The acquisition involves two major players in the music industry:
- Creator Partners – Founded by former SoundCloud CEO Kerry Trainor
- Servco – Owner of Fender Musical Instruments Corporation
Importantly, Reverb will maintain its independence, operating as a privately-held company, similar to its structure before Etsy’s acquisition.
Continuity and Future Development
Reverb CEO David Mandelbrot has assured users that the transition will be seamless, with no disruption to the platform’s buying and selling activities. The deal is expected to be finalized in the coming weeks, maintaining business continuity for the platform’s user base.
Upcoming Platform Enhancements
Reverb has announced several innovative features in development:
- Faster payment options for sellers
- Local instrument drop-off without listing requirements
- Enhanced search functionality for buyers
- Improved instrument shipping safety measures
Impact on Users and Market
The new developments promise significant benefits for both buyers and sellers. The introduction of local drop-off options could particularly benefit users by:
- Reducing international shipping costs and tariffs
- Providing more immediate access to local inventory
- Streamlining the selling process
- Enhancing the overall marketplace experience
Market Implications
This transition represents a strategic shift in the online musical instrument marketplace, potentially leading to:
- More specialized focus on music gear trading
- Enhanced integration with music industry expertise
- Improved services for musicians and collectors
- Innovation in instrument trading platforms
Note: This article may contain affiliate links. If you make a purchase through these links, we may earn a commission.
About The Author
