Photo credit: www.engadget.com

Etsy Moves to Sell Reverb After Six-Year Ownership

Etsy has announced that it will be divesting Reverb, the online marketplace specializing in musical instruments, six years after its original acquisition. The exact financial details of the transaction have not been disclosed; however, it’s worth noting that Etsy originally purchased Reverb for $275 million in 2019.

In their statement about the upcoming sale, Reverb confirmed that the buyers will be Creator Partners, a firm founded by former SoundCloud CEO Kerry Trainor, and Servco, the parent company of Fender Musical Instruments Corporation. Importantly, Reverb will continue to operate independently and will not merge with either investor, maintaining its private status as it did prior to Etsy’s acquisition.

Reverb’s CEO, David Mandelbrot, indicated that the transaction is anticipated to close within the next few weeks. He reassured users that the platform’s core functionalities will remain uninterrupted throughout the transition. Additionally, Mandelbrot highlighted several ongoing initiatives aimed at enhancing the user experience. Among these is a pilot program for a new selling option that promises faster payments and local drop-off points for instruments—eliminating the need for sellers to create listings. These changes aim to facilitate convenient access for buyers seeking local gear and to alleviate additional costs associated with tariffs.

Reverb is also actively working to improve the user experience by making it simpler for buyers to locate what they’re searching for and ensuring that sellers can ship their instruments securely.

Source
www.engadget.com