REVERB TO BECOME PRIVATELY HELD M usic gear marketplace Reverb has announced that two new investors
that while both investors also invest in Fender, Fender will not get preferential treatment on Reverb. Reverb’s partnership with Fender will remain unchanged, including Fender’s Certi- fied Pre-Owned program, which is just one of more than 20 Certified Pre-Owned shops brands have opened on Reverb. “We are thrilled and honored to be a part of Reverb’s continued success,” said Mark Fu- kunaga, executive chair of Servco. “For nearly 90 years, Servco has been deeply involved in musical instruments and music education programs. And we remain committed to being good stewards of leading musical instrument companies, like Reverb, and supporting play- ers everywhere in pursuing their passion to create music.” When the deal closes in the coming months, Reverb will return to being an independent business. According to Mandelbrot, buyers and sellers won’t notice any disruption as a result. {reverb.com}
— Creator Partners and Servco — have entered an agreement to purchase Reverb from Etsy. Once the deal closes, Reverb will be a privately-held, independently operated company backed by two investors that share Reverb’s experience in the music industry and focus on supporting musicians. “Creator Partners and Servco share our pas- sion for the musical instruments industry and a community-first approach, plus a deep desire to strengthen creative industries,” said David Mandelbrot, CEO at Reverb. “The musicians, shops and brands who use Reverb have always been at the center of all that we do, and these two partners will help us support our music- making community in new and better ways.” Creator Partners is an investment company currently investing in music companies includ- ing BMI, SoundCloud, Color Studios and Mogul. “Reverb is the No. 1 global marketplace for
musicians, and a one-of-a-kind platform that has transformed access to quality used gear for creators of all levels” said Kerry Trainor, Creator Partners founder and former CEO of SoundCloud and Vimeo. “We are thrilled to join the Reverb mission to make the world more musical and grow the entire industry through seamless secondhand commerce.” Servco has been involved in the musical instrument industry since 1937, including a long history with Fender — first as a dealer of Fender music gear in the 1950s, then as part of the group that bought the company from CBS in 1985 and now as the majority owner of the company, as well as an active investor in other musical instruments businesses. Reverb noted
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