Ray J Closes $31 Million Deal to Launch Raycon

Ray J, the American singer and television personality, today announces a new $31 million deal securing the launch of his new electronics transportation brand Raycon.

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.

Ray J takes an active full-time role in the newly formed partnership, overseeing marketing and global branding strategy.

As the entrepreneurial CEO of his own electronics brand in 2015, Ray J is best known for popularizing the Scoot-E-Bike, a foldable, two-wheeled electric vehicle.

Today, Ray J believes Raycon is the next evolution for his business ventures. With a family of innovative, high-demand electronics designed and backed by celebrities, Raycon addresses the everyday needs of the urban technophile, focusing on impactful electric transportation.

β€œThe world is moving towards renewable green energy, and electric transportation is a big part of that. With the Raycon movement, we are going to make sure we are one of the first ones there,” said Ray J.


 

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