Reverb Plans to Increase Investment in Product Team as Sales Remain Strong

Music gear marketplace reports highest quarterly gross merchandise sales in Q2 2020

Monday, August 24, 2020 — Reverb, the largest online marketplace dedicated to buying and selling new, used, and vintage musical instruments, announced that it plans to increase by more than 40 percent the capacity of its product team. The increased investment from 2019 will enable the company to grow its team focused on creating and enhancing tools that help music gear sellers connect with musicians all over the world.

“Our engineers, product designers, developers, and entire team are dedicated to making it easy for musical instrument retailers of all sizes to find buyers. This has been especially critical this year, as music shops across the globe have shifted their businesses almost entirely online,” said David Mandelbrot, Chief Executive Officer at Reverb. “Over the past few months, players of all levels have been buying musical instruments on Reverb more than ever. Growing our team will enable us to help ensure that anyone looking for a guitar or drum set online finds the shops and individuals that sell on Reverb.”

According to the second quarter earnings report from Etsy, which acquired Reverb last August, Reverb delivered a strong performance in the second quarter of 2020. In fact, total gross merchandise sales for the quarter were the highest they’ve ever been. Reverb reports that searches for music gear in Q2 have been up nearly 50 percent, with several music gear categories—like ukuleles, MIDI keyboards, and drum machines—seeing search spikes of 100% or more.

According to Mandelbrot, “It’s encouraging to see that while spending more time at home, consumers are turning to musical instruments for stress relief, personal development, and entertainment. We’re excited to expand our team to meet our growing demand.”

Reverb is hiring. To view open positions at Reverb, visit: https://reverb.com/page/jobs

About Reverb

Reverb.com is the largest online marketplace dedicated to buying and selling used, unique, and new musical instruments. Since launching in 2013, Reverb has grown into a vibrant community of buyers and sellers all over the world. By focusing on inspiring content, price transparency, musician-focused eCommerce tools, a music-savvy customer service team, and more, Reverb has created an online destination where the global music community can connect over the perfect piece of music gear. A portion of each sale on Reverb goes to Reverb Gives, which provides youth music programs all over the world with the instruments they need to make music. Reverb is a wholly-owned subsidiary of Etsy, Inc., (NASDAQ: ETSY).