How Big Is The Company Juul?
The average number of adults smoking traditional cigarettes in the United States in the past few years have lowered down. However, the e-cigarette market is growing day by day with a significant change in trend. Reports reveal that e-cigarettes are now gaining popularity as a synonym of Juul Labs Inc. This company promises the development of high-quality e-cigarettes that contain almost the same amount of nicotine as like traditional cigarettes yet cause less harm to your health. This is the prime reason why e-cigarette usages have been grown by almost 80% with the latest product launched from Juul.
This latest solution for nicotine hit is also gaining popularity among middle schoolers and high schoolers as well. Recently, on Nov 28, 2018, it was reported by Wall Street Journal that makers of Marlboro cigarettes, Altria Group Inc. is interested in taking around 35% stake in the largest e-cigarette manufacturer company Juul. Although there is no further buzz about the deal in the market; but if it happens, Altria may find an opportunity to grow with the rapidly expanding industry in the e-cigarette market. Note that, Juul is serving the market from past 3 years and this San Francisco based company is believed to have huge potential.
If you look at the last year stats, Juul disclosed the estimated retail sale of around $1.8 billion. This amount is almost 3 quarters higher than the traditional cigarette market around the world. As the product is being loved worldwide and it has captured attention of wide range of audience, you might be interested to know more about the company itself. Below we have highlighted a few essential details about the Juul.
Juul Labs Inc. – Facts you need to know:
Juul was originally evolved from Pax Labs in the year 2017; this San-Francisco based vaporizer developer is popular in the industry from decades. Note that, Pax was earlier known as Ploom when it was started by Adam Bowen and James Monsees. Both these youngsters were graduated from Stanford University in a design program. This company raised the estimated worth of $106.1 million in just four rounds of funding from Fidelity Investment. As per a report published by Crunchbase. Inc. magazine, Pax gained huge growth in sales up to 200% within two years before the year 2015 by selling more than 500,000 vaporizers.
Juul product was launched later in the year 2015 that make use of specifically designed nicotine blends prepared by Juul team. Although market these days is loaded with a wide range of Vaporizers from different competitive brands, Juul is loved by all due to its 10 times higher nicotine content as compared to most other e-cigarettes. The prime idea behind the development of Juul was to provide a healthy alternative to the traditional cigarette smokers.
This start-up company closed the annual profit of $16 billion in the previous year that is much more than the initial profit of $1.2 billion recorded when the company was just launched to the market. With the huge rise in company sales, Juul has recently announced the opening of more than 90,000 retail stores so that teenagers and adults can access the products with ease.