Juul Labs gets $12.8 billion investment from Marlboro maker Altria Group

After a long year fighting underage use of its products, Juul Labs has today struck a deal with Altria Group, the owners of Philip Morris USA and makers of Marlboro cigarettes.
The deal values Juul at $38 billion, according to Bloomberg, and injects the company with a fresh $12.8 billion in exchange for a 35 percent stake in Juul Labs.
Here’s what Juul Labs CEO Kevin Burns had to say in a prepared statement:
We understand the controversy and skepticism that comes with an affiliation and pa