Disclaimer

This presentation contains forward-looking statements within the meaning of the federal securities laws. Forward-looking statements include statements relating to our financial guidance for the third quarter of 2020 and key drivers thereof; the impact of our investments on topline growth the uncertain impacts that the COVID-19 pandemic may have on our business, strategy, operating results, key metrics, financial condition, profitability, and cash flows and changes in overall level of consumer spending and volatility in the global economy.

Forward-looking statements include all statements that are not historical facts. In some cases, forward-looking statements can be identified by terms such as “anticipates,” “believes,” “could,” “estimates,” “expects,” “may,” “plans,” “will,” “intends,” or similar expressions and the negatives of those words.

Forward-looking statements involve substantial risks and uncertainties that may cause actual results to differ materially from those that we expect. These risks and uncertainties include: (1) risks related to the ongoing COVID-19 pandemic, which continues to impact our GMS, other key metrics and results of operations in numerous ways that remain volatile and unpredictable; (3) our failure to meet our publicly announced guidance or other expectations; (4) our ability to successfully execute on our business strategy or if our strategy proves to be ineffective; (5) our ability to attract and retain an active and engaged community of sellers and buyers; (6) our ability to maintain our growth; (7) macroeconomic events that are outside of our control; (8) our ability to recruit and retain employees; (9) the importance to our success of the trustworthiness of our marketplace and the connections within our community; (10) our ability to enhance our current offerings and develop new offerings to respond to the changing needs of sellers and buyers; (11) the effectiveness of our marketing efforts; (12) the effectiveness of our mobile solutions for sellers and buyers; (13) our ability to expand our business in our core geographic markets; (14) regulation in the area of privacy and protection of user data; (15) our dependence on third-party payment providers; (16) acquisitions that may prove unsuccessful or divert management attention, including our acquisition of Reverb; and (17) the potential misuse or disclosure of sensitive information about members of our community and the potential for cyber-attacks. These risks and uncertainties are more fully described in our filings with the Securities and Exchange Commission, including in the section entitled “Risk Factors” in our Quarterly Report for the quarter ended March 31, 2020, and subsequent reports that we file with the Securities and Exchange Commission. Moreover, we operate in a very competitive and rapidly changing environment. New risks emerge from time to time. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may make. In light of these risks, uncertainties and assumptions, we cannot guarantee future results, levels of activity, performance, achievements or events and circumstances reflected in the forward-looking statements will occur. Forward-looking statements represent our beliefs and assumptions only as of the date of this presentation. We disclaim any obligation to update forward-looking statements.

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Reverb Names David Mandelbrot Chief Executive Officer

January 28, 2020

CHICAGO , Jan. 28, 2020 /PRNewswire/ -- Reverb , a leading online marketplace for buying and selling new, used, and vintage musical instruments, has named David Mandelbrot Chief Executive Officer, effective January 28, 2020 . Mandelbrot has more than two decades of leadership experience within the technology, media, and entertainment industries.

Under Mandelbrot's leadership, Reverb will focus on driving growth by improving the tools that enable music makers all over the world to find the perfect instrument and expanding the services that help sellers of all sizes connect with more buyers. Mandelbrot will also be focused on continuing Reverb's international growth. Reverb—which operates as a standalone business following its recent acquisition by the global unique and creative goods marketplace Etsy—plans continued expansion of its teams in Chicago and Amsterdam .

Etsy's CEO Josh Silverman commented, "We are excited to have David take the helm at Reverb to guide its continued growth. His experience with successfully leading innovative companies across the technology and entertainment industries, and his passion for music, make him ideally suited for the role. We believe Reverb has a long runway for continued growth, and I'm confident David is the right leader to maximize its position in the musical instruments space."

"As a long-time guitar enthusiast, I've been an active Reverb user since shortly after it was founded—I have sold several items and spent countless hours exploring the wonderful instruments uniquely available on Reverb. To join a company that combines my passion for music with my marketplace and technology experience is truly a dream come true. Plus, what could be a better way to find the perfect fingerstyle blues guitar than joining Reverb?" said Mandelbrot. "The Reverb team has created something magical. 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. It is also thrilling to be part of Etsy, a company I've long admired for its mission-driven business model and successful performance track record."

Mandelbrot brings to Reverb extensive leadership experience in both tech marketplaces and entertainment. Most recently, Mandelbrot was CEO of Indiegogo , where he led the crowdfunding platform as it helped users raise more than $1 billion for hundreds of thousands of projects. Prior to joining Indiegogo , Mandelbrot spent more than a decade as a top executive across various tech companies, including two that he co-founded. Mandelbrot spent nearly seven years at Yahoo!, most notably as VP and GM of Yahoo!'s expansive media and entertainment division, growing the company's music, movies, TV, finance, and sports businesses, among others. Since 2017, Mandelbrot has been an advisor to atVenu, the world's leading live entertainment commerce platform for managing tours, venues, and festivals in every major market.

Mandelbrot will report to Etsy CEO Josh Silverman and succeeds Reverb's founder and former CEO, David Kalt , as part of the previously announced transition plan.

About Reverb
Reverb is a leading website and app where anyone can buy and sell new, used, and vintage 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 (NASDAQ: ETSY.)

About Etsy
Etsy, Inc. operates two-sided online marketplaces that connect millions of passionate and creative buyers and sellers around the world. Our primary marketplace, Etsy.com , is the global destination for unique and creative goods. Buyers come to Etsy to be inspired and delighted by items that are crafted and curated by creative entrepreneurs. For sellers, we offer a range of tools and services that address key business needs. In addition, Etsy, Inc. owns Reverb, a leading global online marketplace dedicated to buying and selling new, used, and vintage musical instruments. Etsy's mission is to keep commerce human, and we're committed to using the power of business to strengthen communities and empower people. Our company was founded in 2005 and is headquartered in Brooklyn, New York .

Contacts:

Media Relations Contact:
Reverb, Heather Farr Edwards , Senior Manager, Brand and Communications : heather@reverb.com

Etsy, Sarah Marx , Senior Manager, Corporate Communications: press@etsy.com

Investor Relations Contact:
Etsy, Deb Wasser , Vice President, Investor Relations: dwasser@etsy.com

Cautionary Statement Regarding Forward-Looking Statements
Forward-looking statements include all statements that are not historical fact, including the anticipated future growth of Reverb and the ability of Reverb management to drive that growth. Forward-looking statements involve substantial risks and uncertainties that may cause actual results to differ materially from expectations. These risks and uncertainties include the execution of our business strategy, the success of our marketing efforts, the growth and performance of our platform, and other risks and uncertainties that are more fully described in our filings with the Securities and Exchange Commission , including in the section entitled "Risk Factors" in our Quarterly Report on Form 10-Q for the quarter ended September 30, 2019 and subsequent reports that we file with the Securities and Exchange Commission .

Forward-looking statements represent our beliefs and assumptions only as of the date of this press release. We disclaim any obligation to update forward-looking statements, except as required by law.

SOURCE Reverb


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