Ray J and his Raytroniks Corporation signed a deal with LoopShare, a ride-sharing company that specializes in sustainable urban transportation, for their “ScootE” brand bike, with Ray J milking the deal for about about $34 million and over 18 million common shares in LOOPShare.
ScootEbikes will hit the streets in 2020, with digital dashboard services and technology unlike any bike sharing company on the market. The projected gross potential of the micro mobility company is upward of $2 billion in the next two years.
RayJ also owns another tech company called Raycon Global, which is a consumer electronics brand founded in 2017. Raycon is the premier global brand for innovative, high-demand electronics designed by celebrities and is already one of the leading start up tech companies bringing 10 million dollars in sales in its first year.
With this degree of financial advancement, Ray J may very well be the first R&B artist to reach $1 billion in revenue.