Six months after being acquired by Etsy for $275 million, Chicago music gear marketplace Reverb has a new CEO.
Reverb announced Tuesday that it has hired David Mandelbrot as its next chief executive officer. Mandelbrot was previously the CEO of Indiegogo, the popular crowdfunding site that has helped people raise more than $1 billion for their projects. Mandelbrot left Indiegogo in 2019 after nearly six years with the company.
He takes over for founding CEO David Kalt, who said back when Reverb was acquired in July that he planned to step back from the company and find a replacement.
Launched in 2013, Reverb has created an online marketplace where shoppers can buy and sell new, used and vintage music gear. The company raised $47 million in venture capital before being acquired by Etsy.
Reverb, which operates as a standalone business under Etsy, plans to grow its teams in both of its Chicago and Amsterdam offices, the company said.
Mandelbrot, who will report to Etsy CEO Josh Silverman, said he's been a Reverb user for years and has spent "countless hours" exploring the site looking for instruments.
“The Reverb team has created something magical," Mandelbrot said in a statement. "I’m looking forward to keeping that magic alive while continuing to find new ways to help buyers and sellers connect over the perfect piece of music gear."
Prior to Indiegogo, Mandelbrot also worked as an executive at Yahoo! and founded two startups, Nextread and 3220 Publishing.
