Coinstar
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 (as Coinstar, Inc.) Bellevue, Washington, US. |
| Founders | Jens Molbak, Aaron Finch, Dan Gerrity |
| Headquarters | Bellevue, Washington , US. |
Area served | North America, Europe |
Key people |
|
| Services | Coin counting services E-payment services |
| Revenue | US$ 1.85 billion (2011) |
| 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) |
| 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. 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.
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.