Xing Chenyue was the chemist who played a part in making Juul. Now she is showcasing the product of her new startup, Myst Labs. It is a Juul alternative for the 350 million smokers in China. This is big news because China has the largest smoking population in the world. It will also create a heated battleground because Juul will enter China soon.
Pax Labs was the company that created Juul in 2017. Xing was also a part of a 20-member team and joined the Company in 2013. During her three-year stay in America’s biggest vaping company, Xing created nicotine salts, due to which Juul became a big thing. This invention inspired many followers because it made inhalation of high levels of nicotine easy and less irritating.
Xing left Juul when the company made a foray into marijuana vaporizers. This move didn’t interest Xing, who is a non-smoker and her main ambition is to help smokers satisfy their needs, without using harmful substances.
After leaving the company, Xing worked as a project manager in the pharmaceutical company, Dermia. However, she returned to cigarette research by starting Myst Labs. Therefore, she co-founded the company with Thomas Yao, a famous venture capitalist.
Slowly, Myst started taking form. Meanwhile, Juul reached over $38 billion valuations, even after it was investigated for engaging teens into vaping. In China, vaping was still getting popular. Research from the Soochow Securities proves that China only accounts for 6% of the e-cigarette market. Xing welcomed this opportunity because now she was in total control of what her lab produces.
“We want to have the same level of impact in China as Juul has in the United States. We also want to make Myst a Juul alternative for China. Let’s hope that Myst has a positive impact on Chinese smokers,” Xing said. “Myst hopes to transform the way people smoke and reduce the overall nicotine supply and intake.”
Myst’s first product is a $58 flash drive shaped device. It has an overall nicotine level of 3% or 5%. It also comes with a cigarette holder for hygiene and a “click” sound that is just like a lighter. Myst will start shipping in China through different online and offline channels. The Company also plans to target international markets in the coming years. Its price is comparable to Juul’s market price.
Myst doesn’t market its devices as a smoking cessation tool. Rather, it markets itself as a healthy Juul alternative for adult smokers. Myst has also avoided using cool and young models for their advertisements. To verify the customer’s age, Myst uses the process of facial recognition. It is a common technology in China, in which people scan their faces to pay for different things or different entertainment services. This strategy also allows the company to avoid any disruption in China’s cigarette monopoly.
Myst has only half of its team in Silicon Valley to conduct research and development. The remaining team members work out of Shenzhen. Yao, the business development head of Myst, states, “We are combining, both China’s supply chain and Silicon Valley research. This approach sets our company apart from the competition.”
Yao compares the present vaping situation in China to what happened with smartphones in 2010 and 2011 when copycats and low standard phones became available. Currently, there are many low standard versions of Juul in the market. Many new e-cigarette startups have also popped into the market.
Xing states that Myst’s edge only lies in the top-notch quality of its products. According to Yao, the company spends around 20% of its money on research and development.
Myst has popular and talented people from business and medicine. This huge talent reflects Myst’s vision of ultimately digitizing smoking. The Company wants to make a connected vaporizer that continuously tracks the user’s health. Although the current Myst’s generation doesn’t align with this futuristic vision, Yao and Xing believe that consistent research and hard work will turn their dreams into reality.
