According to Wall Street News report, the total sales of vape in the United States has reached about $2.3 billion this year, an increase of 77%.
According to Nielsen data, the Juul’s sales have soared by 728% in the recent days. Wells Fargo analyst Bonnie Herzog said its market share has soared from 70.5% in the previous month to around 72% in mid-August. In the same period, the overall growth of e-cigarettes increased by 97% to $1.96 billion.
After arranging Nielsen data, Herzog found that in the past 12 months ended August 11, Juul San Francisco sold $1.29 billion of vape kits and nicotine pods, which accounted for more than half of the total value of $2.31 billion.
As a relative newcomer to the e-cigarette market, Juul has dominated the industry, and it took only three years.
With the hot sale of caramel pudding and mango, Juul has greatly boosted the boom in the e-cigarette market and prompted Herzog to raise its annual sales forecast for the e-cigarette market from the previous estimate of $5.5 billion to $6.6 billion.
Some time ago, Juul announced that the target financing amount for this round was $1.2 billion. According to Reuters, it has received $650 million in financing.
With a valuation of more than $15 billion, it is the sixth-ranked startup now in the US, and it has successfully ranked among the “super unicorns” like Uber, Airbnb, and Lyft. According to publicly disclosed information. Currently, Juul’s shareholders include tiger global and mutual fund company fidelity investments.