Reverb has been sold by Etsy, and is now a independent company for the first time since 2019
Online music gear marketplace Reverb has been sold by Etsy, marking its transition to being a privately held, independently operated company for the first time since 2019.
The company has been purchased by investors Creator Partners and Servco, two companies which, between them, boast a diverse portfolio of music brands.
READ MORE: Shred-ready Charvels and Jacksons, Fender Professional II Strats discounted BIG at Reverb
Creator Partners, for example, owns both SoundCloud and BMI and is an investor in Fender (its owner, Kerry Trainor, is also a Fender board member and former CEO of SoundCloud and Vimeo), while Servco has been involved in the musical instruments industry since 1937, and is the majority shareholder in Fender.
Reverb stresses, though, that while both Creator Partners and Servco are both investors in Fender, Fender will not get preferential treatment on Reverb. It says its partnership with Fender will remain unchanged, including Fender’s Certified Pre-Owned programme, which is one of more than 20 Certified Pre-Owned shops on Reverb.
Reverb CEO David Mandelbrot says Reverb will not be merging with Creator Partners, Servco, or any of the companies in which they invest as a result of the deal, that its team will remain intact, and that buyers and sellers on Reverb won’t notice any disruption as a result of the news.
“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.”
Looking to the future, Mandelbrot adds: “We’ve got a lot of exciting changes in the works. 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,” says 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.
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Source: www.guitar-bass.net
