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Etsy, the e-commerce platform for handmade goods, is acquiring music gear marketplace Reverb for $275 million in cash. The site, which sells new, used, and vintage musical instruments and accessories, will continue to operate as a standalone business.
The two companies have a natural connection to each other, with Etsy CEO Josh Silverman describing Reverb “as the ‘Etsy’ of musical instruments.” Reverb CEO David Kalt also credited Etsy with giving him the confidence to launch his own marketplace. Kalt, a former guitar store owner, started the site in 2013 to create a place where musicians could buy and sell instruments from each other. Kalt will step down from the CEO position after the acquisition closes, which is expected later this…
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