Coinstar, Inc. recently announced the company's official name change from Coinstar, Inc. to Outerwall Inc. was approved by stockholders on June 27. The name change reflects the evolution of the company from a single coin-counting kiosk business into multiple automated retail businesses, according to the release. The name Outerwall was selected as an umbrella corporate brand that encompasses the company's current operations and provides a platform for future automated retail opportunities.
"Our transition to Outerwall signifies the company's next chapter as we continue to push the walls of retail out to bring new and inventive solutions to consumers," said Chief Executive Officer J. Scott Di Valerio, in a prepared statement. "We are enthusiastic about the future and committed to building on our existing brands Redbox® entertainment and Coinstar® money services, as well as uncovering the next idea that will create a better everyday for our consumers, retailers and partners."