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Etsy acquires the Reverb for $275 million

Etsy acquires the Reverb for $275 million  ·  Source: Reverb

Reverb.com, the online site for buying and selling guitars, music equipment and more has been sold to Etsy for a reported $275 million. In a thoughtful message to customers, founder David Kalt announced that he’s going to stand down as CEO.

Etsy acquires Reverb for $275 million

Reverb is a bit like the eBay for musicians. It was set up back in 2013 as an way for people who wanted to buy and sell their musical instruments online. The site was set up by Chicago Music Exchange owner David Kalt, who will be stepping down as CEO of Reverb. Here’s an excerpt from his statement about the sale:

With Etsy as our parent company, we’ll remain the marketplace built for the music community by a team of musicians and music lovers. Your ability to buy, sell, learn, and connect on Reverb will not change … At the same time, we’ll have added resources to continue growing and improving the Reverb community. Think of it like going to see your all-time favourite band and getting a surprise sit-in from another musician you admire.”

Etsy

Kalt added that, while he will remain in charge of Reverb during the transition, eventually he will hand over the control to a new CEO. Etsy, of course, is known as an online retailer for makers and artists. The company was founded in 2005 and has grown rapidly ever since.

Ideally, Etsy will be well suited to its new acquisition, as Etsy has plenty of history in online sales worldwide and appealing to the artistic community. Both factors should help Reverb grow in the coming years.

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by Jef
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William Paxson
11 months ago

Reverb-where gear that vendors can’t sell locally (often as not because it’s overpriced) goes to be sold.

Unapologist
11 months ago
Reply to  William Paxson

Nobody is forced to buy anything on Reverb. I made some good deals on there. Always contact the seller, I’d say. Also, it helps to spot that 2nd hand guitar you would otherwise not see at all. I just hope the site remains better than eBay. CustServ at Reverb has been very fast and helpful every time I needed them. Real humans, can’t be said at eBay where they seem to only protect scamsters

Near Nuff
Near Nuff
10 months ago
Reply to  Unapologist

Reverb is overpriced as OP said. Better variety and prices of gear on ebay currently