Coinstar Founder
Coinstar Founder latest news, images, analysis about The Coinstar Story. In 1989 Jens Molbak was sitting in his dorm room at Stanford University, staring at a jar of coins on his desk, trying to think of the easiest way he could turn all that loose change into some much-needed cash. He realized …
FAQs for Coinstar Founder
What is the history of Coinstar?
The company was founded in 1991 as Coinstar, Inc. and is headquartered in Bellevue, Washington . Outerwall cooperated with the US Mint in the introduction of the Golden Dollar at the beginning of the millennium and encouraged people to use coins rather than notes.
Why did Jens create Coinstar?
He realized that there was simply no way to do it. Founding Coinstar two years later, Jens aimed to create an easy and convenient way for people to turn their loose change into spending money without having to sort, roll, and take it to the bank. Along with two classmates, he built a kiosk that could accurately do all of the hard work.
What is a Coinstar coin-cashing machine?
The typical Coinstar coin-cashing kiosk is green and the size of a large vending machine. They are located at grocery stores, drug stores, larger merchants, banks or other retail locations. The coin-counting service is available in the US (including Puerto Rico), Canada, Ireland and the UK.
Is Coinstar Redbox going out of business?
Outerwall, formerly Coinstar, decided to close its Rubi business in December 2013 then sold that business in 2014 to Feniks, a Seattle start up food tech company. In August 2012, Redbox's founder, Gregg Kaplan, exited Coinstar as president and COO of Redbox.
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About Coinstar
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