Ray J in a private jet

R Jay’s company projected to make over Sh20b in 2020

Everyone remembers Ray J when they think about his infamous intimate tape with Kim Kardashian, forgetting that the man had an ‘admirable’ music career with some notable hits.

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But people might want to take note of the R and B singer. He has been making money moves! The man is expected to secure a hefty bag in 2020 thanks to his bike-sharing company ScootEbike.

RayJ with the bikes
The singer with the bikes
Back in January 2019, LOOPShare, a micro-mobility and ride-sharing company focused on sustainable urban transportation, announced that it entered into an Asset Purchase Agreement with Raytroniks Corporation to acquire the ‘Scoot-E’ brand.
Ray J ended up walking away with about $34 million (Sh.3.4 billion)  and over 18 million common shares in LOOPShare.
The singer is making that money
Ray J doing well financially

ScootEbike/Loopshare scooters will hit the market in early 2020 offering to provide users with the ability to use advanced telematics and digital dashboard services unlike any other bike-sharing company in the world.

The singer at a board meeting
Ray J at a board meeting

This can potentially be a billion-dollar company in 2 years if it all goes as planned. Upon closing of the Raytroniks transaction (the “Transaction”) LOOP received several benefits including: Acquisition of a recognized brand in the electric transportation industry, increased visibility in the global micro-mobility and ride-sharing industry with access to expertise and vision of a successful tech-entrepreneur such as Ray J.

Ray J doing well financially 1

LOOP has the potential to surpass the success of scooter-share company Bird, which stunned the transportation industry by achieving a billion-dollar valuation faster than any company in history.

Ray J posing
Ray J posing

Could it be possible that Ray J will be the first R&B singer to reach 1 billion dollars in revenue?  Only time will tell. But 200 million is a great start!

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