A UK vaping company that claimed $1 billion in revenue just two years ago has been acquired out of administration for a mere £76,500 ($102,000). The sale followed failed funding rounds and a complete cash collapse, marking a dramatic fall from its once-ambitious valuation.

The company's collapse underscores the volatile nature of the vaping sector, where rapid growth is often fueled by speculative investment rather than sustainable profits. Many firms in this space have struggled with tightening regulations and shifting consumer sentiment, leading to high-profile failures despite earlier revenue claims.

Investors will watch for the buyer's plans for the brand and any remaining assets. The case serves as a cautionary tale for startups in heavily regulated industries, where revenue projections can be misleading without a clear path to profitability and regulatory compliance.