Tuesday, June 11, 2013

Facebook's Sean Parker Backs Arizona's NJoy

Scottsdale, Arizona-based NJOY, which makes electronic cigarettes, has some new, high profile backers--and a hefty amount of capital--after raising $75M in equity Monday. The investors include Facebook founding President Sean Parker, who has founded Napster. According to NJOY, the company raised $75M in new equity, from Sean Parker, Douglas Teitelbaum (Homewood Capapital), and others. Teitelbaum joins the company's board with the funding. NJOY said the funding will go towards marketing, clinical trials, research and development, an dinternational expansion. More information »