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If Marlboro -maker Altria takes a stake in Juul, it wouldn’t be the first time the founders of a company that’s sought to bill itself as a tool for eliminating cigarettes has partnered with Big Tobacco.

The $16-billion valuation startup’s cofounders, James Monsees and Adam Bowen, sold a minority stake in their first stab at the e-cigarette market to Japan Tobacco International. [...]