World’s Most Popular Music Gear Marketplace Ranked #8 Among Most Innovative Music Companies
Wednesday, February 20, 2019—Reverb.com, the leading online marketplace dedicated to buying and selling new and used musical instruments, has been named to Fast Company’s prestigious annual list of the World’s Most Innovative Companies for 2019. Reverb is recognized alongside Universal Music Group, Sofar Sounds, and Live Nation as one of the top companies making a profound impact on the music industry.
“Reverb was built for the music industry by a team of musicians, so we’re uniquely positioned to impact the market in a way that large marketplaces like Amazon or eBay cannot,” said CEO David Kalt, who launched Reverb in response to the pain he felt buying and selling instruments online as a guitar store owner. “By focusing on inspiring content, price transparency and low fees, musician-focused eCommerce tools, a music-savvy customer service team, and more, we’ve created an online destination where the global music community can connect over the perfect piece of music gear.”
Since launching in 2013, Reverb has grown into the most popular music gear website in the world, with over half a billion dollars in annual sales on the platform and artists like Maroon 5, Green Day, Moby, Dave Grohl, Sonic Youth, Linkin Park, and more using Reverb to get their gear into the hands of fans. Built for musicians at every level, large retailers, brick-and-mortar shops, brands who sell direct, and more, Reverb makes it easy for anyone to buy and sell gear through tools like Reverb Sites—a “Squarespace for the musical instrument industry” that enables sellers to create a free, customized website in a matter of minutes.
"From a logistical standpoint, most small businesses don't have the staff and time to list products separately on online marketplaces and their own website. With Reverb Sites, in one fell swoop, we have our inventory displayed nationally to millions, as well as our own branded website that’s helping us build a national reputation,” said Evan Holmes of Music Makers, a brick-and-mortar guitar store whose online sales went from zero to $100,000 in three months thanks to Reverb. “Without Reverb, I would have to invest thousands in online ads to bring in the volume of sales and eyeballs that we’ve been getting on the marketplace.”
Within the past 18 months, Reverb has also launched Reverb LP—a marketplace for records, CDs, and more—and Reverb Gives, which turns a portion of every sale on Reverb into instruments for music programs all over the world. These additions join a host of longstanding Reverb features, such as the Reverb Price Guide, which uses real-time transactional data to help users understand the price of what they’re buying and selling; the Reverb mobile app, which helps users buy and sell gear easily on-the-go; and Reverb News, which attracts musicians to the site through daily how-to articles, demo videos, and more. The company also recently expanded its Netherlands office and opened an office in Japan to accommodate the company’s rapid international expansion.
Reverb joins Spotify, Instagram, Bandcamp, Atlantic Records, Fender Musical Instruments, and Moog Music, among other brands, that have ranked on Fast Company’s Most Innovative Companies List in the “music” category. According to Fast Company, this year was the “most competitive field of nominees” the editors have ever seen. More than three dozen Fast Company editors, reporters, and contributors determined the list, which aims to provide both a snapshot and a roadmap for the future of innovation across the most dynamic sectors of the economy.
Fast Company’s Most Innovative Companies issue (March–April 2019) is now available online (view Reverb’s ranking here) and on newsstands beginning February 27th.
About Fast Company
Fast Company is the only media brand fully dedicated to the vital intersection of business, innovation, and design, engaging the most influential leaders, companies and thinkers on the future of business. Since 2011, Fast Company has received some of the most prestigious editorial and design accolades, including the American Society of Magazine Editors (ASME) National Magazine Award for “Magazine Of The Year,” Adweek’s Hot List for “Hottest Business Publication,” and six gold medals and 10 silver medals from the Society of Publication Designers. The editor-in-chief is Stephanie Mehta and the publisher is Amanda Smith. Headquartered in New York City, Fast Company is published by Mansueto Ventures LLC, along with our sister publication Inc., and can be found online at www.fastcompany.com.
Reverb.com is the online marketplace to buy and sell new, used, and vintage music gear. Since launching in 2013, Reverb has grown into the most popular music gear website in the world, with total sales on the platform surpassing $1 billion and more than 10 million musicians and music lovers around the world visiting the website each month. A portion of each sale on Reverb goes to Reverb Gives, which provides teachers, instructors, and leaders of music programs across the nation with the instruments they need. Reverb also recently launched Reverb LP, an online marketplace for buying and selling records and other physical music. Visit www.reverb.com or download the mobile app: https://reverb.com/page/reverb-app.