One of the hottest e-cigarette manufacturers currently is Juul. If you’ve been monitoring the news or following social media recently, you may have noticed that nearly all of the articles focus on the company’s rapidly expanding reach into the mainstream. In fact, the FDA recently concluded a survey that found that 8% of US adults have tried or currently use vaping products. While there are various benefits to vaping, one of the biggest is that you don’t need to spend a lot of money to own one.
It’s no secret that cigarettes cause a lot of damage to the economy and to individuals who smoke them. In fact, it’s been estimated that the US economy loses over $180 billion per year due to the effects of cigarette smoking. These days, the damage is even greater due to the mounting costs of healthcare and lost productivity from people quitting or trying to quit smoking cigarettes. While these figures speak for themselves, the good news is that there are alternatives — like e-cigarettes!
E-cigarettes are helping to reduce smoking by creating a safer and healthier alternative for people who want to enjoy their daily nicotine intake but don’t want the health risks associated with traditional cigarettes. Furthermore, e-cigarettes allow current smokers to enjoy their product without the threat of addiction that comes with traditional cigarettes. Thanks to this growing trend, more and more people are enjoying the benefits of vaping and the savings that they provide!
One of the companies leading the way in the E-cigarette industry is Juul. With big name-brand affiliates like Kevin Durant and Will Smith jumping on board as brand ambassadors, it’s clear that the brand recognizes the benefits that come with mainstream acceptance.
In an attempt to learn more about Juul and their products, I decided to do some shopping research and found a few interesting things…
The Growth Of Juul
Based on a review of the company’s financials, it appears that Juul was founded in 2015 and is currently valued at over $16 billion. This makes them one of the newer and more established e-cigarette companies out there. It also makes them one of the most recognizable brands in the industry, with billions of dollars in sales annually and the backing of some of America’s most famous sports stars and celebrities.
To put their growth into perspective, here’s a look at how much other major e-cigarette companies have sold for over the past five years.
TikTok, the popular video platform that combines both user-generated and professional-produced content, began as a private beta in September 2018. The platform boasts over 500 million monthly active users. As of May 2020, MikroTik’s value is $16.7 billion.
MikroTik sells several different devices, including cameras, drones, and routers, to residential and small business customers. They also provide mobile data solutions and security alarms. MikroTik is considered a pure play in the consumer drone space and has raised over $350 million in funding from investors like Khosla Ventures, Greycroft Venture Group, and Innovation Ventures.
Volcano has built a reputation as one of the best and most affordable e-cigarette brands in recent years, boasting over 170 million in monthly active users and a 75% price reduction in 2019. The e-cigarette company was originally founded in 2012 and is headquartered in Canada. Volcano is also certified Eco-friendly by the BizEaze Trustmark.
Based on their website, it appears that Volcano primarily targets health-conscious users who are seeking a cheaper alternative to tobacco cigarettes. Their “Smoking Is Bad, So Let’s Evolve To Better Things!” ad campaign perfectly illustrates this mentality. The campaign is packed with images of people doing yoga, taking a hike, or biking while exhaling clouds of white vapor.
Based in Nashville, Tennessee, Blueberry was founded in 2018 and is currently valued at $15.9 billion. The company makes and sells e-cigarettes, as well as pods and tanks for use with those products.
While Blueberry hasn’t received as much media coverage as other e-cigarette companies, they are consistently one of the most popular e-cigarette suppliers on Amazon.com. The company primarily targets adults who want to switch from cigarettes to vaping and enjoys broad acceptance and appreciation among the community of people who use their products.
Based in Irvine, California, VaporFi began as a Kickstarter project in 2015 and raised over $1.7 million. The company’s sales grew from under $2 million in 2015 to over $10 million in 2018 and is now valued at $14.5 billion. VaporFi is focused on creating a better alternative for people who want to enjoy the benefits of vaping without the unhealthy effects of tobacco.
As you might imagine, being a new company in the vaping industry and on Kickstarter, VaporFi had a lot of growing pains to navigate. The company offers several different products including e-liquid, cartridges, and chargers to help customers get started.
Among the problems that VaporFi had to overcome was developing a reliable way to produce their e-liquid at industrial-scale quantities. To ensure quality, they had to figure out a way to produce e-liquid that met the high standards that their customers had come to expect from their brand. One way that they accomplished this was by developing new technology that enabled them to produce e-liquid more effectively and efficiently than ever before. With thousands of dollars in losses each month, the company turned to their community of eager e-cigarette customers for help. As a result, they were able to reduce their losses to a small fraction of what they used to be and were ultimately able to recover and grow their business.
It’s important to remember that vaping is not a cure-all for every health issue. However, it is likely to be less harmful than smoking and more beneficial for people who want to quit or cut back on their habit. Thanks to the growing acceptance and legitimacy of vaping in mainstream society, it’s likely that we’ll soon see more and more individuals trying it as a healthier alternative to cigarettes.