Reverb has been sold by Etsy, and is now a privately held, independently operated company for the first time since 2019.
The online music gear marketplace has been bought by Creator Partners and Servco, two investment firms with strong ties to the music industry. Creator Partners, for example, owns SoundCloud and BMI, while Servco is a majority shareholder of Fender. Creator Partners founder is also the former CEO of SoundCloud.
Reverb CEO David Mandelbrot stresses that Reverb will not be merging with Creator Partners, Servco, or any of the companies in which they invest, that Reverb’s team will remain intact and that buyers and sellers on the platform will not notice any disruption as a result of the deal.
“Creator Partners and Servco share our passion for the musical instruments industry and a community-first approach, plus a deep desire to strengthen creative industries,” Mandelbrot says.
“The musicians, shops, and brands who use Reverb have always been at the centre of all that we do, and these two partners will help us support our music-making community in new and better ways.”
Reverb also says that while both Creator Partners and Servco are investors in Fender, Fender will not receive preferential treatment on the platform as a result of the deal.
“We’ve got a lot of exciting changes in the works,” Mandelbrot says. “We’re expanding access to music-making software on Reverb and we’re getting ready to pilot a new option for selling that allows musicians to get paid faster, while skipping the listing and shipping process.
“Our teams are working on improving our search functionality, making it easier to ship, and shortening the time it takes to resolve support issues. All in all, there’s a lot for our community to look forward to and I’m very excited about what’s coming as we move forward as an independent company again.”
“Reverb is the #1 global marketplace for musicians, and a one-of-a-kind platform that has transformed access to quality used gear for creators of all levels,” says Creator Partners founder Kerry Trainor. “We are thrilled to join the Reverb mission to make the world more musical, and grow the entire industry through seamless secondhand commerce.”
“We are thrilled and honoured to be a part of Reverb’s continued success,” adds Executive Chair of Servco, Mark Fukunaga. “For nearly 90 years, Servco has been deeply involved in musical instruments and music education programs. And we remain committed to being good stewards of leading musical instrument companies, like Reverb, and supporting players everywhere in pursuing their passion to create music.”
Learn more about Reverb, Creator Partners and Servco.
The post Reverb is now independently operated again after being sold by Etsy appeared first on MusicTech.
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