Online music store Reverb has been sold to two new investors, meaning it will become an independently operated business for the first time since Etsy’s $275 million takeover in 2019.
Financial details around the newly announced deal have not been disclosed, but it has been confirmed that Creator Partners and Servco are behind the move. Both have deep-rooted links to the music industry.
Creator Partners, founded by former SoundCloud CEO Kerry Trainor, has an investment portfolio that includes a trio of music-related firms: BMI, Fender, and SoundCloud.
Servco, meanwhile, is the majority owner of Fender, which has recently detailed how Donald Trump’s new trade tariffs are impacting its operations.
In an official statementthe online instrument marketplace confirmed Reverb’s newfound independence, stating: “We won’t be merging with either investor or any of the other companies in their portfolios, and our team will remain intact,” ensuring site users “can continue buying and selling on Reverb as you normally would without any disruption.”
The statement adds that its new investors will “bring a passion for the musical instrument industry as well as a community-first approach and a deep desire to help transform creative industries for the better.”
Though its new owners have connections with Fender, Reverb made it clear that the famous American brand will not receive “preferential treatment.” The Player Telecaster and American Professional II Stratocaster were the best-selling electric guitars on the site last yeardethroning John Mayer’s PRS SE Silver Sky, which had topped the sales table the previous two years.
“Reverb’s partnership with Fender will remain unchanged,” the statement continues, “including Fender’s Certified Pre-Owned program, which is just one of more than 20 Certified Pre-Owned shops brands have opened on Reverb.”
While that portion of Reverb will continue as normal, the new investors are also looking to leave their mark on the business with several user-focused changes.
They plan to increase the amount of music-making software, such as plugins, available on the platform. There are also plans to pilot a new option for sellers that allows them “to get paid faster and drop off your gear locally, without needing to create a listing or ship.”
This will prove particularly useful for users wanting to shift hard-to-ship gear via drop-offs and pickups.
Reverb was founded in 2013 by David Kalt as the online offshoot of the popular Chicago Music Exchange. Funding for its launch was supported by a group of investors, including Cheap Trick’s Rick Nielsen and country star Brad Paisley.
It has since blossomed into one of the most-used online marketplaces for gear and has expanded its reach via video content and documentaries, including two fascinating mini-docs of Joe Bonamassa’s museum-like home, Nerdville.
The bluesman’s Klon-style pedal, made in collaboration with Way Huge, was exclusively available on the site at launch last year, and Martin did likewise with its “bombshell” non-cutaway Grand Performance acoustic in July.
A score of big-name musicians — from Alex Van Halen and George Benson to Jason Newsted and Muse — have all sold stage-played gear and rarities on the site.
Reverb was founded in 2013 by David Kalt as the online offshoot of the popular Chicago Music Exchange. Funding for its launch was supported by a group of investors, including Cheap Trick’s Rick Nielsen and country star Brad Paisley.
It has since blossomed into one of the most-used online marketplaces for gear. It has since expanded its empire via star-studded video content and documentaries, including two fascinating mini-docs of Joe Bonamassa’s museum-like home, Nerdville.
The bluesman’s Klon-style pedal, made in collaboration with Way Huge, is exclusively available on the site, and Martin did likewise with its “bombshell” non-cutaway Grand Performance acoustic in July.
A score of big-name musicians, from Alex van Halen and George Benson to Jason Newsted and Muse have all sold stage-played gear and rarities on the site.
GIPHY App Key not set. Please check settings