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Coinstar invests in mobile recycling kiosk company ecoATM

Archiv – United States | Washington-based Coinstar Inc, a provider of automated coin-counting and movie rental kiosks, has invested in ecoATM, a provider of automated recycling kiosks for mobile devices. The terms of the transaction were not disclosed.United States | Washington-based Coinstar Inc, a provider of automated coin-counting and movie rental kiosks, has invested in ecoATM, a provider of automated recycling kiosks for mobile devices. The terms of the transaction were not disclosed.
EcoATM, which was founded in 2008 and is based in San Diego, currently has seven ecoATM pilot kiosks in the United States. The kiosks automatically price the mobile devices that are placed into it and pays consumers the amount in cash, gift cards or coupons. The mobile devices that are collected are then either re-sold into the secondary market or recycled.
Commenting on the investment, CEO of Coinstar Gregg Kaplan said: ’We believe ecoATM could be a viable business as it provides an easy way for consumers to properly resell and/or recycle the more than $7 billion in used mobile phones that are annually retired in the US, while creating a sustainable secondary market for these devices.’
Coinstar’s core products include the redbox self-service DVD-rental kiosk and the Coinstar self-service coin-counting kiosks. The company currently has 26,900 DVD kiosks and 19,000 coin-counting kiosks in operation. It also provides financial services such as pre-paid debit cards and global money transfers.

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