The San Francisco startup Ploom, the company behind the popular line of Pax vaporizers, has changed its name. Well, not technically, but close enough. We’ll explain.
Ploom still exists, but the Ploom trademark and intellectual property pertaining to its modelTwo and its corresponding “pods” have been acquired by JTI. The Pax vaporizers on the other hand are now the property of Pax Labs. So in essence, JTI acquired Ploom, its modelTwo, and pods while the Pax vapes were spun off to a form a new corporate entity, Pax Labs.
Pax Labs founder James Monsees referred to the transaction involving Ploom and JTI as a partnership that “has afforded both parties many mutual benefits” while noting that they’re “proud” of their success with the pods product line. He added that the two companies “will profit from this fresh approach.”
“This partnership has afforded both parties many mutual benefits, and we are proud of our success with the pods product line”
As for the intent of Pax Labs, Monsees noted that the company’s focus will be “on vaporization delivery products” and the continued growth of the company.
Pax Labs History
Here’s a little history lesson for those who are unaware of the company’s origins. Pax Labs was first founded back in 2007 by a couple of graduates of Stanford’s Design Program in an attempt to reinvent the way people smoke by providing the tools necessary to create a cleaner alternative. These tools, as we’re calling them, are vaporizers, which produce vapor as opposed to smoke.
While the original Pax Vaporizer wasn’t the first product that the company put onto the shelves, it has proven to be incredibly successful in the vaporizer space. Subsequently, the company has put out not one, but three Pax vaporizers as there is now the original, which we’ll call the Pax 1, and now the Pax 2 and Pax 3 as well.
As of February of 2015, over half a million Pax units had been sold. And in June of the same year, the company announced a massive round of funding in which it raised $46.7 million.