21
Sep
2016

E-cig unicorn NJOY goes terminally bankrupt

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After raising $70 million from backers like Peter Thiel and Bruno Mars at a valuation in excess of $1 Billion, e-cigarette manufacturer NJOY has filed for bankruptcy.

It has an accumulated deficit of $234.4 million, according to the filing. NJOY also solicited buyers, hiring Barclays in January, but it had no takers.

 

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