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Ray J Signs 7-Figure Deal For His Scoot-E-Bike Company!

Photo Credit: Businesswire


Ray J Signs 7-Figure Deal For His Scoot-E-Bike Company!

Ray J Signs 7-Figure Deal For His Scoot-E-Bike Company!

Ray J’s bank just keep getting bigger! The reality star turned businessman just scored a big million dollar deal!

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Ray J has sold his Scoot-E-Bike business to Canadian company LOOPShare for an amount in the high 7-figures, according to TMZ. He’ll still have a big role in the scooter venture and will help continue to work on their goal which is to provide users with scooters to get around town better.

Not only will Ray play an important role in the company’s strategy moving forward, but the 38-year-old will also be in control of close to 19 million shares! The venture will start by producing three models of the convenient mode of transportation: a traditional sit-down model, a Vespa style unit, and stand-alone scooter. Their plan is also for the bikes to go global.

Aside from singing and being on TV, Ray’s manager, David Weintraub, shares that his focus has been on growing his tech business over the last year. He has reportedly turned down several TV deals in the process.

Clearly, Ray is making a smart move. Raycon is already raking in $2-$3 million in sales every month and he has already decided to treat himself to a 2018 Mercedes-Benz Maybach and 2019 Lincoln Navigator which totaled up to $410,000!

Socialites, are you here for this? Sound off in the comment box below!

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