Juul Labs, the California-based e-cigarette startup behind the most popular electronic cigarette on the U.S. market today, is raising a whopping $1.2 billion in a financing round and according to Bloomberg, they intend to use the massive influx of capital to further their international expansion.
Currently, the company’s flagship product, the Juul device, is only available in one other country outside of the United States and that’s Israel. However, the company reportedly has its sights set on the international market as it aims to expand beyond Israel and the U.S. to capitalize on additional markets — this all according to Bloomberg’s sources, who requested anonymity as Juul’s plans as a company remain private.
In light of the latest funding round, Bloomberg reports that Juul Labs will be worth over $16 billion. CNBC puts that figure at $15 billion. Regardless of the discrepancy between the two figures, one thing is clear: Juul Labs has experienced and continues to experience massive growth in the face of vaping’s rising popularity.
Is Juul Labs the future of nicotine consumption or is vaping just another fad that will come and pass like Beanie Babies and Troll Dolls?
Related Articles:
The Best Portable Vaporizer Under $150...
You Haven't Lived Until You've Tried This Vape...
This Automatic Herb Grinder Can Roll You Joints...