Online music-instruments marketplace Reverb has been owned by larger e-commerce firm Etsy since 2019, when it was acquired for $275m.
Now it’s going independent again, with Etsy announcing that it is selling Reverb to a pair of investors, Creator Partners and Servco.
The deal is expected to close “in the coming months” according to Etsy’s financial filing. It did not specify a price, but said more details will be provided in its Q1 financial results on 30 April.
For its part, Reverb published a blog post promising that becoming a standalone company again “will bring us even closer to our musical roots”.
It noted that Creator Partners has also invested in BMI, SoundCloud, Colors and Mogul in the music space, while Servco is the majority owner of instruments brand Fender.
“We won’t be merging with either investor, or any of the other companies in their portfolios, and our team will remain intact,” it promised.
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