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Etsy buys music gear marketplace Reverb to expand its reach

Etsy buys music gear marketplace Reverb to expand its reach

Etsy is expanding its online shopping empire, albeit not in the way some would have expected. The company plans to acquire Reverb, one of the largest marketplaces for musical instruments, for $275 million. This is a chance to expand into a "new vertical" with a business that follows a similar strategy, Etsy said. It intends to run Reverb as a stand-alone business and help it grow through improved search, a stronger community and easier buying and selling.