Juul valuation dropped to $12 billion as tobacco giant Altria takes another $4.1 billion hit amid mounting litigation against the e-cigarette maker by skleb1234
on Thursday, tobacco giant Altria revealed that it was writing down its investment in Juul Labs for a second time, with its stake taking a $4.1 billion hit amid mounting litigation against the e-cigarette maker.its valuation of Juul down to $12 billion.$12.8 billion for a 35% stake in Juul back in December 2018, at a valuation of $38 billion, making it one of Silicon Valley’s most valuable startups at the time.
by a regulatory crackdown on vaping and concerns over the health risks associated with e-cigarettes.about the Altria-Juul deal, prompting a review by the Federal Trade Commission that is still ongoing, according to theThis latest writedown is the second time that the Marlboro maker has taken a hit on its investment in Juul—in October 2019, AltriaSince last year, Juul has been facing substantial lawsuits and regulatory scrutiny, as the company was blamed for a surge in underage vaping.
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