Today my guest is Jens Molbak, the founder of Coinstar, the self-service coin counting machines you see in your local supermarket. Coinstar processes more coins each year than the US Mint produces. When Coinstar installed their pilot kiosks in Los Angeles, they so significantly impacted the velocity of money flowing through the hands of consumers, the Federal Reserve called them up to find out what they were doing. Prior to launching, Jens surveyed over 1500 people as they exited local supermarkets. From his research, he estimated US households were sitting on $8 billion in loose change. The market opportunity was enormous, but Jens was equally motivated to prove that public, private and non-profit benefits can exist in one organization. Download the mp3 to hear how he did it.

For the non-profit benefit, Jens set up the Coins That Count program, a way for people to donate to organizations via Coinstar and it is one of the most efficient forms of fundraising, more than 92% of the money collected is passed through to the non-profit organization of your choice.

 Hear what motivated Jens Molbak to start Coinstar and his desire to prove that public, private and non-profit benefits could exist in one organization [2:54m]: Play Now | Play in Popup | Download
 Why the Fed called Coinstar when they launched their pilot kiosks and the impact it had on the US money supply [1:59m]: Play Now | Play in Popup | Download
 Jens Molbak's advice for entrepreneurs [2:44m]: Play Now | Play in Popup | Download
 How Jens went from having a great idea to starting a great company [3:42m]: Play Now | Play in Popup | Download
 Full interview with Coinstar founder Jens Molbak [25:42m]: Play Now | Play in Popup | Download