Juul Labs, is a E-cigarettebased company founded in 2017 by Pax Labs. The Juul Netherlands uses Nic Salt e-liquids of tobacco leaves packed in single-use cartridges. Juul Labs was founded by Adam Bowen and James Monsees. Head office is in San Francisco. Altria Group (Philip Morris) acquired 35% of Juul Labs for $12.8 billion on 20 December 2018. Juul received a $2 billion bonus to distribute among his 1500 employees.
The Juul became the most popular E-cigarette in the United States at the end of 2017. The use by young people has given rise to public health concerns. Several investigations follow by the U.S. Food and Drug Administration.
History Juul Labs
Juul Labs was founded on 22 May 2015. The electronic cigarette of Juul was introduced by PAX Labs on 1 June 2015. In July 2017, Juul Labs became an independent company. Tyler Goldman, former CEO of Juul. 11 December 2017, it was announced that Goldman would be replaced by Kevin Burns. James Monsees is Chief Product and board member at Juul. Adam Bowen is Chief Technology and board member at Juul. Other board members are Nicholas Pritzker, whose family chews tobacco giant Conwood, Riaz Valani, and Hoyoung Huh.
As the products of Juul became more popular, the company grew rapidly. From 200 employees in September 2017 to 400 in May 2018, 800 and 1,500 at the end of the year. The
majority of the Juul employees are based in San Francisco. Juul Labs will quadruple by 2018, with an average of 120 employees per month. From July 2018, the Juul E-cigarette will be manufactured in Shenzhen, China, while the pods will be manufactured in the United States.
In July 2018, Juul raised $650 million, giving it a value of $15 billion. On 20 December 2018, Altria, one of the world’s largest cigarette manufacturers, purchased 35% of Juul for $12.8 billion. The purchase was the largest investment ever made by a US company. According to Wells Fargo, the deal valued Juul Labs at $38 billion. At the time, Juul had an annual turnover of approximately $2 billion. CNBC reported that Juul received a $2 billion bonus to distribute among its 1500 employees.
In April 2018, Martha Coakley, former Attorney General of Massachusetts, joined the team with Juul. Especially government affairs to coordinate lobbying about the benefits of the product and at the same time to advocate underage use.
On June 13, 2019, the House of Representatives of the United States launched an investigation into the company. Looking for the business deal with Altria, social media and advertising practices and communication. The investigation was led by Illinois Representative Raja Krishnamoorthi, Chairman of the Oversight Subcommittee on Economic and Consumer Policy.
On September 25, 2019, it was announced that Kevin Burns was stepping down as CEO. KC Crosthwaite, the chief growth officer for Altria who would take over the role of CEO.
Current corporate investors include Tiger Global Management, investment company Fidelity Investments and Tao Capital. In June 2018, Juul reportedly raised $1.2 billion. The company was valued at over $16 billion. Around the same time, TPG Capital refused to invest in Juul due to ethical concerns.
Altria Group repurchased shares on 20 December 2018 for a 35% stake in Juul Labs. Altria is the parent company of Marlboro, which has more market share in combustible cigarettes than the following 7 brands combined. According to a Wall Street report, Altria’s investments in Juul were pushed up. Due to the fact that many smokers switched to the E-cigarette. Altria’s own E-cigarette
The Juul Netherlands E-cigaretteten use nicotine salted e-liquids based on tobacco leaves, instead of free base nicotine. Juul got American patent for producing its nicotine salt e-liquids in 2015. The nic salt e-liquids are said to create an experience more akin to smoking. Juul tries to deliver a nicotine peak in five minutes, similar to a traditional cigarette. Each pod contains about the same amount of nicotine as one packet of cigarettes and delivers about 200 puffs. The amount of nicotine in each pod – 50 mg / ml in the United States. Restricted to 20 mg/ml in the European Union. Considerably more than the majority of the E-cigarette on the market.
In August 2018, Juul introduced pods in strengths of 3 percent for its flavors mint and Virginia tobacco. This corresponds to 30 mg/ml. Each cartridge contains propylene glycol, glycerine, flavourings and nicotine salts. Freebase nicotine lacks the hardness of tobacco smoke. A Juul-start package costs about $50. The Juul E-cigarette has the shape of a USB stick and is charged with a magnetic USB dock.
Founders Juul Netherlands
Juul Labs was co-founded by two former cigarette smokers, Adam Bowen and James Monsees. They first set up a company called Ploom. She graduated in product design from Stanford University. Later they developed the Pax vaporization device for cannabis and loose tobacco before setting up Juul. As of August 2018 Bowen is Chief Technology of Juul and Monsees is Chief Product.
- KC Crosthwaite – CEO
- Adam Bowen – Founder, Chief Technology Officer
- James Monsees – founder, Chief Product Officer
|Way of inhaling||Mouth to Lung|
The brand Juul The Netherlands is also known for its high-quality products. With the Juul Netherlands as proof! The brand has been active in the field of electric cigarettes since 2015. De jaren lange ervaring is duidelijk terug te zien in de producten.