From the website of the Oxford Dictionaries:
So, what does vape mean? It originated as an abbreviation of vapour or vaporize. The OxfordDictionaries.com definition was added in August 2014: the verb means ‘to inhale and exhale the vapour produced by an electronic cigarette or similar device’, while both the device and the action can also be known as a vape. The associated noun vaping is also listed.
As e-cigarettes (or e-cigs) have become much more common, so vape has grown significantly in popularity. You are thirty times more likely to come across the word vapethan you were two years ago, and usage has more than doubled in the past year.
Usage of vape peaked in April 2014 – as the graph below indicates – around the time that the UK’s first ‘vape café’ (The Vape Lab in Shoreditch, London) opened its doors, and protests were held in response to New York City banning indoor vaping. In the same month, the issue of vaping was debated by The Washington Post, the BBC, and the British newspaper The Telegraph, amongst others.