Chief Product Officer Bradford Shellhammer Exits Reverb As Etsy Growth Pressure Looms

UPDATE 10-23-24

It looks like our previous prediction that Shellhammer could be moving on to more creative fashion or art focused endeavors was correct, as he announced his new role as Chief Product Officer at Rent The Runway on LinkedIn today.

Chief Product Officer at Etsy-owned musical instrument marketplace Reverb, Bradford Shellhammer, has left the company, just weeks after a round of layoffs that put the future of the site on shaky ground.

Shellhammer posted the news on LinkedIn, saying he had said his goodbyes to the team just last night and thanking Reverb CEO David Mandelbrot for being an exceptional leader.

He had joined the company in 2022, after leaving his previous role as VP Buyer Experience at eBay.

eBay VP Buyer Experience Bradford Shellhammer Jumps To Reverb

eBay VP Buyer Experience Bradford Shellhammer jumps ship to be Chief Product Officer at Etsy-owned Reverb.

Value Added ResourceLiz Morton

The news comes just weeks after Reverb quietly undertook a round of layoffs eliminating over 40 roles across all areas of the company and bringing the total headcount close to where it was when Etsy acquired it in 2019.

Many of the impacted employees appear to be longtime Reverb staff from before the acquisition or those who joined shortly after Etsy took over, raising concerns about loss of critical institutional knowledge and experience and increasing the possibility this may be a last ditch, hail Mary effort before exploring a sell off.

Etsy-Owned Reverb Quietly Undertakes Layoffs Impacting Marketing, Design, Support & More

Etsy-owned instrument marketplace Reverb undertakes another round of layoffs amidst activist investor pressure to make “House Of Brands” strategy payoff.

Value Added ResourceLiz Morton

While Shellhammer did not comment on the layoffs, he did offer his public support for "some talented people who are in search of their next role."

Reverb was acquired by Etsy as part of their "House of Brands" strategy which also included the acquisition of fashion resale marketplace Depop and Brazilian handmade marketplace Elo7 in 2021.

The strategy has had questionable results for Etsy, as these smaller sites have yet to add significant growth to the bottom line, and Etsy sold off Elo7 last year for an undisclosed sum.

The sale led to speculation about whether Etsy may spin off Reverb and/or Depop sometime in the near future as well, especially once it become known that notorious activist investor, Elliott Management, has taken a sizeable stake in the company and a seat on the board.

Etsy Gets New Board Member As Elliott Management Takes 13% Stake In The Company

Etsy is getting a new board member this month as Elliott Management partner, Marc Steinberg, is set to join on February 5, 2024.

Value Added ResourceLiz Morton

Elliott is well known for pressing companies it takes an activist interest in to cut costs, increase revenue, and sell off parts of the business - like in 2019 when they brought their influence to bear on eBay, resulting in the sale of StubHub and their Classifieds business, as well as other changes at the company.

Earlier this year, Shellhammer revealed that the new team had been created at the company to focus on "driving long-term revenue growth...including improving our existing seller advertising platform, Bump, shipping, and protection services, and building new products that provide value to buyers and sellers on our marketplace"

Reverb Gets New Revenue Team As Etsy Faces Pressure To Make House Of Brands Pay Off

Reverb is getting a new team focused on growing revenue as parent company Etsy faces pressure to make “House of Brands” pay off.

Value Added ResourceLiz Morton

But apparently those efforts have not been enough and while Etsy has given no direct hints about the future of the marketplace, a spinoff or other drastic business decision does seem to be increasing likely.

It's unclear what role these developments may have played in Shellhammer's departure, or where he will end up next - but given his creative history founding  Fab.com and Bezar, along with serving as Chief Design Officer at Backcountry, it will not be surprising if his next stop involves the high end fashion or art market.

Bradford Shellhammer; Tech Visionary & Avid Art Collector

Serial entrepreneur Bradford Shellhammer is exuberant, larger-than-life Vice President of Buyer Experience and the General Manager of eBay based in New York City. As a leading product visionary in the company, he has a wealth of experience in creative direction and brand consulting. Bradford has been named as one of Fast Company’s ‘100 Most Creative People in Business’ and was coined the ‘King of Quirk’ by Forbes Magazine and the ‘Eames of E-Commerce’ by USA Today. Before joining eBay, he was the founder of Fab.com and Bezar, along with serving as the Chief Design Officer at Backcountry.com. Shellhammer’s passion for art, design and colour shines through via his personal collection at home, where every single piece has its’ own unique story. The Artling had the opportunity to interview Bradford to unearth more about his journey of art collecting and the tech industry, as well as the impact that art and design has had on his career. If there’s anyone who can exemplify merging ones’ passions with work, it’s Bradford Shellhammer.

The Artling

The main Etsy site also lost an exec this week, with VP Growth Mike Jacobs taking on the Chief Marketing Officer role at Upside.

Etsy Loses VP Growth As Mike Jacobs Takes On CMO Role At Upside

Etsy VP Growth Mike Jacobs has taken a new job at Upside, leaving active buyer & GMS growth strategy up in the air at critical time for company.

Value Added ResourceLiz Morton

Etsy/Reverb have not responded to request for comment or to confirm who will be taking over as Chief Product Officer going forward at time of publishing.

Stay tuned for updates in this developing story!