Tiger Global cuts Juul’s valuation by half to $19 billion

Private equity firm Tiger Global Management has cut its valuation of e-cigaratte maker Juul Labs Inc by half to $19 billion, the Wall Street Journal reported on Monday. 

The writedown of Juul, in which Altria Group Inc has a 35% stake, came at the end of September, the Journal reported, citing people familiar with the matter. 

Altria took a $4.5 billion hit from its investment in Juul in October, with its valuation shrinking by more than a third to roughly $24 billion. 

Both Tiger Global and Juul were not immediately available for comment.

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