Reverb sold: Etsy acquires the musicians’ marketplace for $275 million
Founder David Kalt set to stand down as CEO
Reverb, the online marketplace and community for musicians, has been acquired by Etsy, the ecomm website that specialises in handmade and vintage items, for a reported $275 million. The deal is expected to be completed in the coming months.
Reverb, which has come to be known as ‘eBay for musicians’, was founded in 2013 by Chicago Music Exchange owner David Kalt as a solution for people who wanted to buy and sell instruments online.
Commenting on the acquisition, Kalt said: “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 favorite band and getting a surprise sit-in from another musician you admire.”
Kalt adds that, while he will remain in charge of Reverb during the transition, he’ll eventually hand over the CEO reins to a new leader, stepping back to spend more time with his family.
You can read the full acquisition statement on the Reverb website.
Get the MusicRadar Newsletter
Want all the hottest music and gear news, reviews, deals, features and more, direct to your inbox? Sign up here.
I’m the Deputy Editor of MusicRadar, having worked on the site since its launch in 2007. I previously spent eight years working on our sister magazine, Computer Music. I’ve been playing the piano, gigging in bands and failing to finish tracks at home for more than 30 years, 24 of which I’ve also spent writing about music and the ever-changing technology used to make it.
“Meticulously crafted analogue and digital circuits all curated from the ground up for bass-centric tonal expansion”: Fender unveils the Bassman effects line – 5 pedalboard essentials for bassists
“A full range of controls for instruments and DAWs, along with a semi-weighted keyboard that’ll please the players”: Novation Launchkey 49 and 61 MK4 review
“It's not quite as dark, but it explores other subjects a little bit more”: Robert Smith confirms existence of ‘companion’ album to Songs Of A Lost World