The Motley Fool is on the road in Seattle! Recently we visited Coinstar -- now officially renamed Outerwall (NASDAQ:OUTR) -- to speak with CFO-turned-CEO Scott Di Valerio about the 22-year-old company's well-known coin-cashing machines, as well as its more recent acquisition of Redbox, and future initiatives to expand into other aspects of the automated retail market.
In this brief video segment Scott discusses the development of Coinstar's strategy in recent years, and the company's aspirations as it looks to expand into several additional sectors within the $85 billion automated retail industry. The full version of the interview can be watched here.
A full transcript follows the video.
Austin Smith: Scott, thanks so much for joining us today.
Scott Di Valerio: Thanks, I appreciate you being here.
Austin: Thanks for having us.
Newly in the CEO role, came up from the CFO ranks -- I'm wondering if you could maybe talk a little bit about that transition and what it's like now that you're steering the ship.
Di Valerio: Yeah. It's been a lot of fun. I've been on the team for three-and-a-half years, so really working hard to set the strategy with our executive team and coming in as the CEO, working with that team to continue to push forward.
The good thing is we have a good, strong strategy that's leveraging our leadership in automated retail. We're focusing across six sectors that we set up. That gives us about a $16 billion revenue sweet spot for us in the automated retail space, in an $85 billion market.
We're really setting course with our team to be able to get after that part of the business.
Austin: When you say $85 billion, is that what you see as the addressable market for automated retail?
Di Valerio: For automated retail, yes. Then when we narrow it down to the six sectors that we're looking at and the sweet spots that we think we can get after, it's around $16 billion. With some adjacencies around it, it'll go out to around $20 billion, so we've got a nice, big market for us to get after, and being a leader will allow us to get after it pretty quickly.
Austin: Nice to have those good runways.
Di Valerio: That's right.
Austin Smith has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.