Coinstar Inc. unveiled the first Coinstar machines in four San Francisco Bay area supermarkets in 1992. Jen Molbak developed and researched the idea as a student at Stanford University and helped establish Coinstar Inc. in 1991.Continue Reading
The first machines returned so many coins to circulation, that the U.S. Mint had to adjust production schedules to coincide with Coinstar rollouts, and the company grew rapidly. There are currently over 60,000 Coinstar kiosks located in the United States, Mexico, Canada, the United Kingdom and Ireland, as of 2015.
The company expanded into providing cash for gift cards and purchased the Redbox DVD rental kiosks in 2009. In 2013, Coinstar acquired the ecoATM kiosks, which recycle used mobile phones, and changed its name to Outerwall Inc.Learn more about Inventions