Ray J just made seven figures off of his two-wheelers.
The 38-year-old star has sold his Scoot-E-Bike ride-sharing business to the Canadian firm LOOPShare. Though the exact amount has not been disclosed, TMZ reports that Ray J earned “in the high seven-figures” for the deal.
He will also reportedly take 19 million shares in the company in exchange, providing forward momentum to the company’s development strategy.
Ray J announced the news with a video posted to Instagram, and shouted out early celeb supporters Diddy and sons Justin, Quincy and Christian in the caption.
LOOPShare will reportedly provide users with a choice of three different types of scooter models to rent: traditional sit-down bike style, a stand-alone, and also a Vespa-like vehicle.
Over the years, Ray J’s e-bike business has been given promotional help from the likes of Steph Curry, Snoop Dogg, and his own sister, Brandy.