Former Facebook President Sean Parker Invests $10 Million In E-cigarettes, Along With Biggest U.S. Tobacco Makers

The three biggest U.S. tobacco makers are now jumping into the e-cigarette market, as is Silicon Valley entrepreneur Sean Parker.

Parker, the former Facebook president and founder of Napster, is part of a group investing $75 million in NJOY Inc., which makes one of the leading brands of electronic cigarettes. He is personally investing $10 million, The Daily Mail reports.

According to CBS News, Parker said he hopes "the clever application of technology might someday obsolete the combustion cigarette and all the harm it causes."

According to The Daily Mail, musicians Bruno Mars and Courtney Love are part of the group of investors as well.

According to Yahoo! News, tobacco company Altria Group Inc., the makers of Marlboro, is launching its first electronic cigarette under the MarkTen brand in Indiana starting in August.

Last week, the second-biggest U.S. tobacco company, Reynolds American, also announced "VUSE," the electronic cigarette they will introduce to Colorado in July. And the third-largest U.S. tobacco company, Lorillard Inc., last year acquired "Blu" e-cigarettes, which now make up about one-third of the electronic cigarettes sold at U.S. convenience stores, CBS News reports.

The Daily Mail says one of the reasons tobacco makers are moving towards e-cigarettes is because the industry is facing a steep decline: In 1965, 42 percent of adults smoked, according to the CDC. In 2010, that number was at 19 percent.

Electronic cigarettes, also called e-cigarettes, are similar to standard cigarettes, but heat liquid nicotine in a disposable cartridge and produce a vapor that can be inhaled. The additional cartridges are usually cheaper than traditional cigarettes, according to The LA Times.

The LA Times also says that experts believe electronic cigarettes are less harmful than traditional cigarettes. This is because the nicotine rush comes without the tar and other chemicals that are in normal cigarettes.

Anti-smoking lobbies are calling for more regulation of e-cigarettes. The U.S. Food and Drug administration is reviewing the product.