Coinstar named one of fastest growing companies in the country, tops state

Bellevue-based Coinstar, the parent company of the popular Red Box movie kiosks, has been named to Fortune Magazine's top 100 fastest growing companies.

Bellevue-based Coinstar, the parent company of the popular Red Box movie kiosks, has been named to Fortune Magazine’s top 100 fastest growing companies.

Coinstar was ranked 22nd overall by Fortune, and was the fastest growing company in the state according to revenue. Coinstar saw a three-year earnings growth of 81 percent, revenue growth of 37 percent and a total return of 19 percent.

“Coinstar’s commitment to innovation has consistently delighted consumers and delivered substantial value to our partners, positioning us well for continued growth,” said Paul Davis, chief executive officer, Coinstar. “This distinction by Fortune is a testament to our ability to provide our consumers with practical, value-added technologies in automated retail. We are honored to be a part of this list of market-movers.”

Coinstar’s Red Box units have created a competitive alternative to streaming services such as Netflix that have severely crippled or put out of business many video rental chains.

Along with the Red Box units, Coinstar also machines where customers can deposit their loose change in exchange for gift cards from their favorite businesses or cash, with a fee of approximately 10 cents per dollar of change counted.

Two other Washington companies, Amazon and F5 Networks, made the Fortune list. Washington’s three companies ties it for seventh place in the country, behind, California, New York, Illinois, Texas, Maryland and Massachusetts.

 

Nat Levy can be reached at 425-453-4290.