Ray J Closes $31 Million Tech Deal
Ray J has recently closed a $31 million deal securing the launch of his electronics transportation company, now branded Raycon. Ray J and an electronics company sounds like a bizarre match, but Black Enterprise has been covering the growth of the singer/reality star’s Raytroniks brand for quite some time now, and has an exciting development to report. Ray J has recently closed a $31 million deal securing the launch of his electronics transportation company, now branded Raycon. A press release from the newly-named Raycon says that the $31 million deal, paid in the form of equity and cash, was finalized between Ray J and Cowboy Wholesale, a leading distributor of consumer electronics based in New York City. At the moment, Raycon’s signature product is the Scoot-E-Bike, its a foldable, two-wheeled electric vehicle. The bike was presented to a mass network of influencers, which allowed it to gain a good amount of traction in the market. Raycon promises t...