Tech investors are banking on e-cigarettes, a way to inhale nicotine without smoke.
E-cigarette maker NJOY just scored a $75 million round of investment including $10 million from Sean Parker and $5 million from Peter Thiel’s Founders Fund, reports The Wall Street Journal’s Mike Esterl.
Music star Bruno Mars is also an investor. He even posted a photo of himself on Twitter using NJOY, with a note that said “This is for you mum.”
E-cigarettes like NJOY let smokers inhale their nicotine via a vapor, eliminating the harmful effects second-hand smoke can have on others. They are also thought to be a healthier alternative for the smoker.
“There’s a huge opportunity to transition the entire world away from dangerous, carcinogenic, combusting cigarettes,” said Parker told the Journal.
There’s also a huge opportunity to make a good return on that investment. E-cigarettes could be a $1 billion market in 2013, doubled from last year. And that’s just 1% of the overall cigarette market, the Wall Street Journal reports.
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