Juul Valuation Plunges to About $13 Billion

According to Bloomberg, e-cigarette manufacturer Juul has internally reduced the company's valuation by 35% to about $13 billion just days after announcing plans to cut about a third of its workforce. In January, the company had valued itself at $20 billion.<\/span><\/p>

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This valuation drop aligns Juul with its largest investor, tobacco giant Altria Group Inc., after the latter made write-downs on its investments, reducing Juul's valuation from $38 billion at the time of investment to $12 billion in 2019.<\/span><\/p>