Pax Labs was founded by James Monsees and Adam Bowen in 2007 who were in graduate school at Stanford when they both applied their backgrounds in product design to the challenge of finding better alternatives to smoking. Being smokers for years, they couldn't find an appealing alternative to cigarettes which led them to realize they had a great opportunity to put their credentials and knowledge together to enter the smoking industry. The Juul launched in 2015 when it spun out of Pax Labs and became its own individual company.
Their goal is to be committed to innovating with adult smokers in mind, and on their website under the "Our Mission" section it says "Improve the lives of the world's one billion adult smokers." On their website they mention that they believe vaping can have a positive impact when used by smokers, and can have a very negative impact when used by nonsmokers, and their goal is to maximize the positive and reduce the negative.
In 2016 Juul Labs generated $224 million dollars in retail and even saw their sales increase 621% year after year. In 2017 over 1 million Juul systems were sold which means that most likely there have been between 1.5 - 2 million units sold as of 2018. The units sell for $35 and a four- pack of pods cost $16. The Juul E-Cigarette is made in Shenzhen, China, and the pods are produced in the United States.
Juul is the best-selling e-cigarette on the market and they have over 70 % of the market share of e-cigarettes according to Nielsen data. Most E-cigarettes use a type of nicotine called "free-base" which is supposed to pass through the bloodstream quick, but Juul sells "Juulpods" which contain concentrated juice cocktail of salts and organic acids found in tobacco leaves which is why the Juul most closely resembles a cigarette.
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Juul has a thriving team of scientists, engineers, designers and supply chain experts who believe that their design and technology are keys to creating the best alternative to cigarettes. Juul is raising a $1.2 billion against a $15 billion valuation which will push the companies worth up to more than $16 billion in 2018.
Sources:
https://www.theverge.com/2018/7/3/17529442/juul-vapes-nicotine-electronic-cigarettes-addiction-funding
https://www.businessinsider.com/juul-e-cigarette-one-million-units-sold-2017-11
https://www.juul.com/mission-values
https://en.wikipedia.org/wiki/JUUL
https://www.nytimes.com/2018/11/13/health/juul-ecigarettes-vaping-teenagers.html
https://www.vox.com/science-and-health/2018/11/14/18088468/juul-e-cigarette-menthol-fda-ban
Their goal is to be committed to innovating with adult smokers in mind, and on their website under the "Our Mission" section it says "Improve the lives of the world's one billion adult smokers." On their website they mention that they believe vaping can have a positive impact when used by smokers, and can have a very negative impact when used by nonsmokers, and their goal is to maximize the positive and reduce the negative.
In 2016 Juul Labs generated $224 million dollars in retail and even saw their sales increase 621% year after year. In 2017 over 1 million Juul systems were sold which means that most likely there have been between 1.5 - 2 million units sold as of 2018. The units sell for $35 and a four- pack of pods cost $16. The Juul E-Cigarette is made in Shenzhen, China, and the pods are produced in the United States.
Juul is the best-selling e-cigarette on the market and they have over 70 % of the market share of e-cigarettes according to Nielsen data. Most E-cigarettes use a type of nicotine called "free-base" which is supposed to pass through the bloodstream quick, but Juul sells "Juulpods" which contain concentrated juice cocktail of salts and organic acids found in tobacco leaves which is why the Juul most closely resembles a cigarette.
Juul has a thriving team of scientists, engineers, designers and supply chain experts who believe that their design and technology are keys to creating the best alternative to cigarettes. Juul is raising a $1.2 billion against a $15 billion valuation which will push the companies worth up to more than $16 billion in 2018.
Sources:
https://www.theverge.com/2018/7/3/17529442/juul-vapes-nicotine-electronic-cigarettes-addiction-funding
https://www.businessinsider.com/juul-e-cigarette-one-million-units-sold-2017-11
https://www.juul.com/mission-values
https://en.wikipedia.org/wiki/JUUL
https://www.nytimes.com/2018/11/13/health/juul-ecigarettes-vaping-teenagers.html
https://www.vox.com/science-and-health/2018/11/14/18088468/juul-e-cigarette-menthol-fda-ban
Great description of the company history and how they came to be. Why do you think this company was so successful? In 2015 when they came out there was plenty of other vapes that people would use, so I wonder what made them so appealing to so many people throughout the country?
ReplyDeleteI honestly believe what made them so appealing was the look of the Juul.. It looks like a flashdrive and it being so small makes it so easy to hide and use around school and other places. People just feel cool using them and with them glowing cool lights and stuff too, it's sort of a trap for younger people.
DeleteThe history of JUUL is easy to follow and clearly described. Great job! I cannot believe two students from Stanford created a nationwide movement in youth smoking. The mission statement focuses on only adult smokers, but the past actions of JUUL have been contradictory to that. For example, JUUL marketed to college students on college campuses. I definitely see the ethical problems in this situation. Do you think the inventors regret making the JUUL as it has done more harm than help?
ReplyDeleteI doubt that they regret investing jsut because they have already made millions off of it. They are assuming that young kids will smoke regardless so if they can make some money off of it.. why not? you know?
DeleteThanks for providing an easy to read summary about Juul and their origins. Their story is an interesting one because they wanted to find alternatives to smoking and ended up choosing vaping which would be able to provide a positive impact to smokers. I do believe that as well but Juul has a lot of nicotine inside each pod which is why I think they say that it has a very negative impact when used by non smokers because it can become easily addicted. Their business has really boomed during the past 2 years as I see a lot of people using one which is supported by your nice graph from Vox.com. I think vaping has been good at providing an alternative to smoking for adults but I can't help but think that it's just another form of smoking that doesn't help smokers quit. What do you think? I think some smokers want to use e-cigarettes to quit smoking but with all the nicotine, it's difficult to quit.
ReplyDeleteI think it's fighting fire with fire honestly. It's a better alternative to smoking cigs but it's absolutely not good. Nicotine is so addictive and it's not really a solution at all. It's still doing so much harm.. it's just a bit less than Cigs.
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