Type Private Founder David Kalt | Industry Musical Instruments Number of employees 135 (2017) | |
Founded 2013; 4 years ago (2013) Headquarters Chicago, Illinois, U.S. | ||
Reverb.com is an online marketplace to buy and sell music gear which launched in 2013. The site allows anyone, from large dealers and manufacturers to small shop owners and individuals, to create free listings for musical instruments and other related equipment. Reverb also includes an integrated price guide that pulls transaction data to determine fair market values for a wide range of instruments and gear. Reverb charges a 3.5% sales fee for items sold through the platform, and has also released iPhone and Android apps which include the site's main features.
Reverb was founded by David Kalt, owner of the Chicago Music Exchange and co-founder of the online options brokerage OptionsXpress. In November 2013, Reverb raised $2.3 million in investment which included funds from Chicago-based firm Lightbank, as well as David Lowery and Cheap Trick's Rick Nielsen. In December 2015, Reverb announced an additional $25 million in funding in a Series B round led by Summit Partners.
In addition to shops from individuals and dealers, Reverb has also hosted gear sales for a number of artists including Rick Nielsen, Ray LaMontagne, Ben Kweller, Rex Brown of Pantera, and Wilco. In 2015, Reverb launched a new business to connect music teachers and students dubbed Reverb Lessons.