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Reverb Acquired By Etsy For $275 Million
Christian Eede , July 24th, 2019 15:08

The music equipment marketplace will still operate as a standalone marketplace

Music gear marketplace Reverb has been acquired by e-commerce site Reverb in a $275 million deal.

A press release announcing the move says that Reverb will remain as a standalone business despite the acquisition. Reverb has become a vital marketplace for buying and selling new and used music equipment in recent years, while Etsy allows people around the world to sell all manner of creative producers, such as jewellery and self-designed clothing.

"With Etsy as our parent company, we'll remain the marketplace built for the music community by a team of musicians and music lovers," Reverb founder and CEO David Kalt said in a statement. "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 favorite band and getting a surprise sit-in from another musician you admire."

Etsy CEO CEO Josh Silverman said: "This transaction is a great strategic fit that firmly aligns with our mission of keeping commerce human. Reverb is the Etsy of musical instruments, with significant competitive advantages, and we see tremendous value and untapped potential in the business."

Reverb has been used in recent years by the likes of Oneohtrix Point Never, Sonic Youth and Moby to sell off vast collections of their personal music equipment.