"Fender will not get preferential treatment": Reverb has been sold by Etsy to investors in Fender and SoundCloud - but says its partnership with the guitar manufacturer "remains unchanged"

Reverb has been sold by Etsy to two new investors in a deal that makes the online gear and instrument marketplace a privately held and independently operated company for the first time since 2019.

The company is being acquired by Creator Partners and Servco, two companies that have strong ties to both the music and musical instrument industries. Creator Partners has investments in BMI, Fender and SoundCloud, and was founded by former SoundCloud CEO Kerry Trainor, while Servco is the majority owner of Fender.

Reverb has shared a statement that confirms the company will return to operating as a standalone business once the deal is complete. "We won’t be merging with either investor, or any of the other companies in their portfolios, and our team will remain intact," the statement reads. "You can continue buying and selling on Reverb as you normally would without any disruption."

The company has also detailed several changes coming to the marketplace in the coming months. Reverb plans to make more music-making software available on the platform, and is preparing to pilot a new option for sellers that "allows you to get paid faster and drop off your gear locally, without needing to create a listing or ship".

Though both Creator Partners and Servco are Fender stakeholders, Reverb has confirmed that Fender will not receive "preferential treatment" from the marketplace. "Reverb’s partnership with Fender will remain unchanged, including Fender’s Certified Pre-Owned program, which is just one of more than 20 Certified Pre-Owned shops brands have opened on Reverb," the statement reads.

"Reverb was created for musicians by musicians as a way to connect buyers, sellers, and lovers of music gear—and since 2013, we’ve helped millions do just that," adds Reverb CEO David Mandelbrot.

"Over the past five years, we’ve learned a lot from Etsy as we’ve expanded our community. As we look ahead, with a focus on growing the entire industry by helping more people buy and sell used music gear, we’re excited to align ourselves with two new partners who share our passion and focus."

Reverb was acquired by Etsy in 2019 for $275 million. Terms of the deal with Creator Partners and Servco have not been disclosed.