Juul Labs is an electronic cigarette company which spun off from Pax Labs in 2017. It makes the Juul e-cigarette, which packages nicotine salts from leaf tobacco into one-time use cartridges.
JUUL’s mission is to improve the lives of the world’s one billion adult smokers by driving innovation to eliminate cigarettes.
JUUL was founded in July 2017 by Adam Bowen and James Monsees. The company is headquartered in San Francisco, California.
JUUL Labs’ mission is to eliminate combustible cigarettes. The company was founded to provide the 1 billion smokers worldwide a true alternative to cigarettes that enables them to permanently switch. Its research indicates hundreds of thousands of smokers have already switched to JUUL, and they are working to enable millions more to switch in the coming years.
JUUL's products include device kits, JUULpods, and accessories in different flavors. It became the most popular e-cigarette in the United States at the end of 2017 and has a market share of 72% as of September 2018. Its widespread use by youth has triggered concern from the public health community and multiple investigations by the U.S. Food and Drug Administration.
JUUL is backed by Altria, Tiger Global Management, Fidelity Investments, & Tao Capital among others. The company raised $785.2M in it's latest "Debt Financing" round on Sep 4, 2019. This new round brings JUUL's total funding to $14.4B to-date.
Juul Labs was valued at a gigantic $38B as of December 20, 2018, when Altria, one of the world's largest cigarette manufacturers, bought 35% of Juul for $12.8 billion. JUUL has also acquired Envenio on Jan 21, 2019.