Briefing

Altria is nearing a deal to invest US$12.8 billion in Juul

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Tobacco company Altria is getting close to taking a 35 per cent stake, which would value Juul at US$35 billion, making the electronic cigarette company one of the most valuable private companies in the United States. (Wall Street Journal)

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Talking point: Juul’s valuation would make the three-year old company worth US$4 billion more than Airbnb and three times more than Pinterest. The company has about 1,500 employees and US$2 billion in annual revenue. Some of that revenue comes from Juul’s popularity with children, who report enjoying the different flavours offered by the company and the ability to surreptitiously smoke in school (although administrators are trying to crack down). Last month, the U.S. Food and Drug Administration decided not to ban the sale of flavoured e-cigarettes, which would have been a blow to Juul.