Industry Electronic Cigarettes Headquarters Scottsdale Type of business Private | Website www.njoy.com Founded 2006 | |
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Key people Paul Sturman, Chief Executive Officer Profiles | ||
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NJOY is the trade name of Sottera, Inc., an American company which manufactures and distributes electronic cigarette and vaping products. Headquartered in Scottsdale, Arizona, NJOY products are sold in all 50 states in the United States, and in Europe.
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History
NJOY was founded in 2006 by patent attorney Mark Weiss and became one of the first companies to sell e-cigarettes. Four years later, Mark’s brother Craig Weiss, also a patent attorney, joined the company as CEO.
In 2010, the company won a landmark lawsuit against the Food and Drug Administration. The decision by the US Court of Appeals upheld a lower court ruling finding that the FDA lacked authority to regulate electronic cigarettes as drugs or medical devices, absent therapeutic claims. The court further held that FDA could seek to regulate electronic cigarettes via the FDA’s authority under the Family Smoking Prevention and Tobacco Control Act of 2009, as argued by NJOY.
In 2013, former Surgeon General and physician Richard Carmona joined the company's Board of Directors, also serving in a scientific advisory role.
In 2015, NJOY named former Global President and General Manager of Pfizer's Consumer Health Care Business, Paul Sturman as CEO & President.
In September 2016, NJOY filed for Chapter 11.
Financials
Key institutional investors include Brookside Capital & Morgan Stanley Investment Management. The company's early individual investors include Sean Parker, Peter Thiel, Douglas Teitelbaum & Bruno Mars.
Reception
In 2014, NJOY was ranked No. 1 by IRI in US Vaping Retail Sales.