Coinstar
American company with a network of coin-cashing machines. / From Wikipedia, the free encyclopedia
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Coinstar, LLC (formerly Outerwall, Inc.) is an American company operating coin-cashing machines.
Formerly | Coinstar, Inc. (1991-2013) Outerwall, Inc. (2013-2017) |
---|---|
Company type | Private |
Industry | Entertainment, DVD rental, coin counting machines, mobile product recycling |
Founded | February 1991; 33 years ago (1991-02) (as Coinstar, Inc.) Bellevue, Washington, US. |
Founders | Jens Molbak, Aaron Finch, Dan Gerrity[1] |
Headquarters | Bellevue, Washington , US. |
Area served | North America, Europe |
Key people | |
Services | Coin counting services E-payment services |
Revenue | US$ 1.85 billion (2011)[3] |
US$ 209 million (2011) | |
US$ 104 million (2011) | |
Total assets | US$ 1.48 billion (2011) |
Total equity | US$ 531 million (2011) |
Owner | Apollo Global Management (2016–present) |
Number of employees | 400+ (2020)[4] |
Parent | Apollo Global Management |
Coinstar's focus is the conversion of loose change into paper currency, donations, and gift cards via coin counter kiosks which deduct a fee for conversion of coins to banknotes; it processes $2.7 billion worth of coins annually as of 2019[update].[2] The company also operates Coinstar Exchange for gift cards. Coinstar's kiosks are in the front of stores (between the cash registers and the exit/entrance). The company has more than 60,000 kiosks offering a variety of services in the US, UK, Canada, Puerto Rico, Mexico, and the Eurozone. Coinstar also produces machines that provide prepaid credit cards and e-payment kiosks.
On July 2, 2013, Coinstar changed its name to Outerwall and started trading on the NASDAQ as OUTR.[5]
On September 27, 2016, Apollo Global Management, LLC acquired Outerwall, Inc. and de-listed from NASDAQ. After the acquisition, former components of Outerwall—Redbox, Coinstar, and ecoATM (which includes Gazelle)—became separate business entities.[6][7]