Ray J’s Scoot-E-Bike Company is Set to Reach $200M in 2020
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Ray J is doing big things in the tech world. According to The Source, he secured a deal with ride-sharing company, LOOPShare, for his Scoot-E-bike. The Source reports that William Norwood Jr. also known as Ray J walked away from the deal with $34 million and 18 million LOOPShare shares.
According to Hot New HipHop (HNHH), Ray J created Scoot-E-bikes after a disagreement with his girlfriend.
“Next time you get into it with your girl, start a business,” Ray J said on an episode of “The Vince Staples Show.” “Last time I did that, I created the Scoot-E-bikes. I got so rich I bought her a helicopter.”
Scoot-E-bikes are set to release in 2020 and projected to earn over $200 million, then $2 billion over the next two years. Ray J’s Raytroniks Corporations had a bump in 2017. According to HNHH a former business partner of Ray J, Jean Paul, sued Ray J for starting a competing company. However, HNHH reports that the two settled for an undisclosed amount.
Ray J is no stranger to the tech world. He also owns Raycon Global, a consumer electronics company founded in 2017 that brought in $10 million in its first year. With all of his financial endeavors, The Source predicts Ray J will be the first R&B billionaire.