Puff puff pass the $1 billion valuation because e-cigarette maker NJOY has raised $70 million from Brookside Capital and Morgan Stanley Investment Management, at least according to a NYT report. The company’s early investors included Sean Parker, Peter Thiel, and Douglas Teitelbaum.
Based in Scottsdale, Arizona, the company previously raised $75 million in June, 2013. NJOY’s products are now in over 90,000 retail locations.
The company offers the cigarettes, which are single-use, in packs of three. Users can return eight of the cigarettes (once they’re empty and uncharged) in exchange for one e-cig. According to PCMag they have a “chemical taste
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