Roommates, it may have been all fun and games when Ray J announced some of his newest ventures as a business man, but it looks like Ray is going to have the last laugh!
Ray’s Scoot-E-Bike brand, first introduced in early 2018, has been reportedly sold to a Canadian company called LOOPShare. The 7-figure deal left Ray with a whopping 19 million shares in the company and a spot as a consultant in the business.
But, the shmoney doesn’t stop there. LOOPShare, which is already trading at 3 cents, is now up to 11 cents–a 300% increase in just two days.
The collaboration of LOOPShare and Scoot-E-Bike is certainly a great force in the automobile and ride sharing industry. Big cities are reportedly cutting down on the use of cars because of the idea of micro-mobility.
Research shows that millennials who feel strongly about cleaner and more efficient ways of travel are turning to e-bike and e-scooters are their preferred method. This puts ride-sharing companies in a compromising position.
The idea of e-bikes and e-scooters replacing cars in big cities is simpler than you might think. It’s all about being on the right side of the market. Right now, the market is calling for more affordable and efficient transportation and a great reduction in traffic congestion and parking issues.
Brad Robbins President of, says that micro-mobility is not just a new trend and it won’t be going anywhere anytime soon.
“Micro-mobility is here to stay: that’s bad news for the flagging car industry,” Robbins said in a statement. “But it’s terrific news for anyone seeking better, cleaner, more efficient, and affordable modes of transportation.”
Fortunately for Ray-J, he has landed on the right side of the trade. His association with LOOPshare will provide great credibility to millennials and others interested in hopping on the micro-mobility wave.