Electronic cigarette manufacturer Juul Labs has raised $325m to aid international expansion, as the company continues to battle domestic regulators who are attempting to halt the rise of teen vaping. Anti-tobacco groups claim youths who would otherwise never have smoked cigarettes are becoming addicted to nicotine due to vapes, while the Food and Drug Administration is investigating almost 130 reports of seizures in the last decade from e-cigarette users. The deal with Juul, which will be announced on Thursday, comes after a year of negotiations between the two companies, according to Bloomberg.
Electronic cigarette manufacturer Juul Labs has raised $325m to aid international expansion, as the company continues to battle domestic regulators who are attempting to halt the rise of teen vaping. Anti-tobacco groups claim youths who would otherwise never have smoked cigarettes are becoming addicted to nicotine due to vapes, while the Food and Drug Administration is investigating almost 130 reports of seizures in the last decade from e-cigarette users. The move comes less than a year after Juul was valued at $38bn by Pitchbook.