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Juul cofounders James Monsees and Adam Bowen.
- Juul will put $2 billion of its recent $12.8 billion funding round raised from tobacco giant Altria toward employee bonuses, according to a report from CNBC.
- With around 1,500 employees at Juul, that means each employee on average could receive a $1.3 million bonus.
- Bonus amounts will depend on many factors, including how long employees have been at Juul and how many stock option they've been granted, according to the report.
- Altria's investment puts Juul's valuation at $38 billion.
On Thursday, the Silicon Valley e-cig startup Juul got a whole lot richer, and apparently, so did its employees.
According to a report from CNBC, $2 billion of Juul's recent $12.8 billion raised from tobacco giant Altria will go towards employee bonuses. With around 1,500 employees at Juul splitting the $2 billion, that means each employee on average could receive $1.3 million, CNBC reports.
Not a bad holiday bonus.
Juul did not immediately respond to Business Insider's request to explain exactly how the payouts will work.
According to CNBC, which cites people familiar with the matter, bonus amounts will depend on many factors, including how long employees have been at Juul and how many stock options they've been granted.
The $12.8 billion investment from Altria - America's largest cigarette producer and parent company to Marlboro - gives it a 35% stake in the San Francisco-based e-cig maker.
The investment also puts Juul's valuation at $38 billion, which is higher than tech darlings like Airbnb, Pinterest, and Lyft.