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The Wall Street Journal: E-cigarette startup Juul raises $650 million in funding, at $15 billion valuation

Juul Labs Inc.

E-cigarette maker Juul Labs Inc. has raised $650 million as part of a fundraising round that values the fast-growing but controversial startup at about $15 billion, according to people familiar with the matter.

The investment is part of a financing round that seeks to raise $1.25 billion for the San Francisco company, according to a filing Tuesday with the Securities & Exchange Commission. Hedge fund Tiger Global Management is investing $600 million, the people said.

Even for fast-moving Silicon Valley, Juul has grown at an astounding pace to become the sixth-most valuable U.S. startup behind companies like Uber Technologies Inc.

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