Ray J is expected to experience major success with his ScootEBike’s in the next year. According to Black Enterprise, the R&B singer’s product is projected to rake in $200 million in the next calendar year. Furthermore, reports suggest that the gross potential of the company is nearing $2 billion over the next two years.
Recently, Ray J signed a deal with the ride sharing company, LoopShare, that was worth $34 million. In addition, he acquired 18 million common shares in the company.
Alongside this project, the R&B star is also the founder of Raycon Global.
Ray J stated, “I started Raycon to shake up the wireless audio industry to its very core. I got tired of seeing popular brands that were overpriced and didn’t live up to the hype.”
He added, “Here at Raycon, we design premium true wireless audio products for a fraction of the price, so you can enjoy great sound every day.”
The Source reports that the company has earned $10 million in its first year.