Market Herald logo

Subscribe

Be the first with the news that moves the market
  • LOOPShare Ltd (TSXV:LOOP) has launched an e-commerce website for retail sales of the original folding electric scooter, the Scoot-E-Bike.
  • The invention by TV personality and musician Ray J has benefitted from endorsements by celebrities including Sean Combs, Justin Bieber, Chris Brown, and Snoop Dog.
  • The company has seen strong initial demand from customers in Canada and the U.S.
  • LOOPShare expects the first shipment of Scoot-E-Bikes to sell out quickly.
  • LOOPShare’s share price is down 11.67 per cent, with shares trading at $0.53 apiece.

LOOPShare (LOOP) has announced the launch of an e-commerce website, for the Canadian and U.S. retail sales of the Scoot-E-Bike product.

The folding electric scooter, first created by TV personality and musician Ray J, will be available for purchase directly from the company.

The Scoot-E-Bike provides an eco-friendly, efficient, and convenient alternative to current transportation options.

The product has already experienced strong initial demand since going on the market. Demand has been spurred on by endorsements from famous musicians, including Justin Bieber, Snoop Dog, and Sean Combs.

LOOPShare expects that the first shipment of Scoot-E-Bikes will sell out quickly. The company is already planning to increase its inventory to promote further sales.

LOOPShare CEO Matthew Clayton commented on the steps the company has taken with the Scoot-E-Bike. “Launching direct to consumer sales of the Scoot-E-Bike is a significant milestone for the company and our revenue projections.”

“People simply love this product, and there have been significant inquiries about its availability for sale. Now that it is ready, I am expecting this business unit of the company to rapidly expand.”

“We have added a few amazing features, including a more powerful motor, enhanced Bluetooth speaker, anti-theft alarm, and a full pedal system. This pedal modification qualifies Scoot-E as a true power assisted E-Bicycle for bike lanes here in North America.”

LOOPShare’s share price is down 11.67 per cent, with shares trading at $0.53 apiece.

More From The Market Herald

" Bombardier (TSX:BBD.B) introduces quadruple-sized Singapore Service Centre

Bombardier (BBD.B) has expanded its Singapore Service Centre to become the largest OEM business aviation maintenance facility in the Asia Pacific region.

" IGEN Networks (CSE:IGN) announces successful bid in New York

IGEN Networks (IGN) will provide its Medallion GPS solution to New York State counties.

" Drone Delivery Canada (TSXV:FLT) announces grant of patent

Drone Delivery Canada (FLT) has been granted U.S. Patent No. 11,245,533 by the United States Patent Office.

" CN (TSX:CNR) invests $160M in Manitoba for sustainable growth

CN (CNR) has announced plans to invest around C$160 million in Manitoba in 2022.