Juul– Company Profile

Juul Labs is a leading American electronic cigarette company, headquartered in San Francisco. Juul was founded in 2015 by Adam Bowen and James Monsees, who have made it their mission to provide customers a safer option to cigarettes. While there are dozens of e-cigarettes in the market, Juul stands out as its products are easy to use and maintain. Moreover, Juul ensures use of safe materials so that their customers do not have to face any health issues normally associated with conventional cigarettes and vaping products. Juul has emerged as a socially responsible enterprise by not encouraging smoking, but merely providing smokers a safer alternative. The company is in compliance with all relevantlaws and regulation, as applicable to nicotine products in United States.

History:

At some point of time in their lives, majority of cigarette smokers have made efforts to quit smoking. They also understand how difficult it is to quit smoking and to find safer alternatives to the standard cigarette. Ex-smokers and Juul cofounders went through the same experience and thought about developing a new product that could eliminate cigarettes. The founders utilized their extensive experience in product design and innovation to come up with Juul, which has now emerged as probably the most simple, safe and satisfying product for cigarette smokers. Juul has been a huge hit among people who are trying to quit cigarettes. Data reveals that as of September 2018, Juul had a market share of 72 percent in US e-cigarette market. Juul Labs generates revenue in excess of $2 billion and is valued at around $50 billion.

Funding:

Juul Labs has received investments worth $14.4 billion through eight rounds of funding. Top investors include Altria Group, Fidelity Investments, Tiger Global Management, and Tao Capital.

Acquisitions:

Juul Labs acquired Envenio in 2018. A computer software company, Envenio specialized in providing cloud-based CFD simulation. Envenio has emerged as an asset for Juul, as its advanced tech is at the core of e-cigarettes manufactured by Juul. With Envenio’s expertise, Juul will be able to improve existing products and develop new ones in the future.

Competitors:

Juul competes with other e-cigarettes and vaping products such as EonSmoke, Mistic e-Cigs, Vapor4Life, Blu, Logic Vapes, Ovale, Cue Vapor, and Vuse Vapor.

About the Founders:

Juul Labs was founded by Adam Bowen and James Monsees in 2015. Prior to Juul, the founders had also developed another e-cigarette called Ploom in 2005. Adam Bowen has studied at Pomona College and Stanford University. He has several years of experience in consumer product design and tobacco product innovation. James Monsees has studied at Kenyon College and Stanford University. He has more than 15 years of experience in developing consumer products.