$15 Billion Silicon Valley Upstart Takes on Big Tobacco in U.K.
- Company seeks to replicate its dominance in U.S. e-cigarettes
- Device’s success may be tempered by EU nicotine regulations
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Silicon Valley startup Juul Labs Inc. will begin selling its e-cigarettes in the U.K. this week seeking to replicate its runaway U.S. success -- though with a smaller nicotine hit.
A Juul starter kit -- including the device, a battery charger and four liquid pods -- will be available to buy online and in 250 vape stores in the U.K. this week. The closely held company is funding international expansion with a capital increase that’s expected to reach $1.2 billion, which would value the startup at $15 billion.