Coinstar’s Davis Makes ‘Fortune’ List21 May, 2012 By: Chris Tribbey
Coinstar CEO Paul Davis had been ranked No. 4 among Fortune Magazine’s top ten Technology Visionaries list.
According to Fortune, Davis was recognized for helping drive Redbox’s growth in the DVD rental industry through the pending acquisition of NCR Corp.’s DVD rental kiosks and because of a new streaming service partnership with Verizon.
Redbox posted revenue of $502.9 million for the first quarter of 2012, a 38.8% increase compared with the first quarter of 2011.
“On behalf of Coinstar and the Redbox leadership, I am extremely honored to be included on Fortune’s list among such respected and admired visionaries,” Davis said. “I share this honor with the entire company and its unwavering commitment to continued growth and innovation. As we re-imagine the retail experience, we will continue to innovate within our core businesses and develop new automated retail concepts that better meet the changing needs of consumers and society.”