Juul Labs
- 🦄Became a unicorn2017
- 📈Peak valuation$38 Billion ’18
- 💔Became a Unitard~2022
- 💸Last valuation~$1.14B
How it happened
Juul Labs sold sleek e-cigarettes that dominated the U.S. vaping market, reaching a ~$38B valuation in 2018 after a major Altria investment. Regulatory scrutiny over youth vaping, FDA marketing restrictions, and lawsuits gutted the business; investors including Altria and Fidelity wrote the stake down sharply, with Fidelity marking it to roughly $9.45/share — about 97% below peak. Glassdoor reviews trace the whiplash from inside: headcount that ballooned from a few hundred to roughly 4,000, then shrank back under 1,000 through repeated layoff waves, while employees wrote off their once-prized stock grants as worthless and described bonuses being skipped in the lean years.
Employee accounts paraphrase anonymous, unverified reviews posted publicly on Glassdoor ↗. See our methodology.
Mutual-fund markdowns
11 funds · SEC NPORT-PHow U.S. mutual funds fair-value this still-private company in their quarterly SEC filings.
| Fund | Class | $/sh | From peak | As of |
|---|---|---|---|---|
| VIP Growth Opportunities Portfolio | $1.90 | +0% | Mar 2026 | |
| Fidelity Growth Company K6 Fund | $1.98 | +0% | Feb 2026 | |
| Fidelity Growth Company Fund | $1.98 | +0% | Feb 2026 | |
| Fidelity Series Growth Company Fund | $1.98 | +0% | Feb 2026 | |
| Fidelity Advisor Series Growth Opportunities Fund | $1.98 | +0% | Feb 2026 | |
| Fidelity Advisor Growth Opportunities Fund | $1.98 | +0% | Feb 2026 | |
| VIP Consumer Staples Portfolio | $1.90 | +0% | Mar 2026 | |
| Fidelity Blue Chip Growth K6 Fund | $1.91 | +0% | Apr 2026 | |
| Fidelity Blue Chip Growth Fund | $1.91 | +0% | Apr 2026 | |
| Select Consumer Staples Portfolio | $1.98 | — | Feb 2026 | |
| Fidelity Series Blue Chip Growth Fund | $1.91 | — | Apr 2026 |
Source: SEC EDGAR Form NPORT-P (Level-3 fair-value marks). Per-share marks reflect the fund’s own valuation of a specific share class and aren’t a company-wide valuation. Last refreshed Jun 2026.
Source: Morningstar