Investing
E-cigarette maker Juul Labs seeks $1 billion in funding – Bloomberg News
© Reuters. FILE PHOTO: Juul brand vape cartridges are pictured for sale at a shop in Atlanta, Georgia, U.S., September 26, 2019. REUTERS/Elijah Nouvelage//File Photo
(Reuters) – E-cigarette maker Juul Labs is seeking to raise about $1 billion in a fundraising effort, Bloomberg News reported on Wednesday, citing people familiar with the matter.
The company said last July that it was in the early stages of exploring options including financing alternatives, to protect its business and help refinance an existing loan, as it dealt with lawsuits related to the marketing of its e-cigarettes.
In November last year, Juul, which counted Marlboro maker Altria (NYSE:) as a former investor, secured funding from some of its early investors to keep it afloat, while cutting about 400 jobs and reducing its operating budget.
Juul is working with Jefferies Financial Group Inc for the fundraising, the report said, adding that the e-cigarette manufacturer had about $800 million in revenue in 2022.
Juul and Jefferies did not immediately respond to Reuters’ request for comment.
Read the full article here
Closing Your Business? Do It Before the New Year to Save Money
Why Irate Artists Leaked OpenAI’s AI Video Generator Sora
Friends’ ‘Scrappy’ Side Hustle Led to a $1 Million Product
Unlock Lasting Business Success by Instilling These 5 Family Values
BlackRock, Vanguard, State Street sued by Republican states over climate push By Reuters
This All-Access Pass to Learning Is Now $20 for Black Friday
How to Create a Routine That Balances Rest and Business Success
Apple Prepares a New AI-Powered Siri to Compete With ChatGPT
A Macy’s Employee Made Accounting Errors Worth $132 Million
Customers Want More Than Just a Product — Here’s How to Keep Up
Debt ceiling debate and its effect on the U.S. dollar
Debt ceiling default: Still no deal between parties
Stovall: If the U.S. defaults on its debt, all S&P 500 sectors will likely fall
What China's weaker-than-expected economy could mean for U.S. markets
A ‘Big Short’ investor sees financial disaster brewing in housing markets — again
-
Investing4 days agoThis All-Access Pass to Learning Is Now $20 for Black Friday
-
Passive Income4 days agoHow to Create a Routine That Balances Rest and Business Success
-
Side Hustles5 days agoApple Prepares a New AI-Powered Siri to Compete With ChatGPT
-
Side Hustles2 days agoA Macy’s Employee Made Accounting Errors Worth $132 Million
-
Passive Income5 days agoCustomers Want More Than Just a Product — Here’s How to Keep Up
-
Side Hustles6 days agoMIT Gives Free Tuition For Families Earning $200,000 or Less
-
Side Hustles4 days agoGift the Power of Language Learning with This Limited-Time Price on Babbel
-
Investing1 day agoFactbox-How Trump can overhaul US financial regulators when he takes office By Reuters