Sagoon calls for investors

Published On: July 24, 2018 11:08 AM NPT By: Republica  | @RepublicaNepal

WASHINGTON DC, July 24: Sagoon, a social commerce platform founded by Nepali immigrants in the United States has opened mini IPO investment until July 26. The company has decided to provide bonus shares to its investors as well.

Sagoon has said that potential shareholders who invest US$10,000 and 20,000 will be provided bonus share of US$1,000 and 2,500 respectively.

Company’s successful mini-IPO, launched in 2017, has raised approximately $5 million from more than 3,500 investors worldwide. Washington D.C. – July 18, 2018 - Sagoon, the social commerce platform enabling its users to Connect, Share, and Earn, has announced it will be closing its successful mini-IPO (equity crowdfunding) offering on July 26, 2018. Investors interested in buying shares in the company can do so until midnight ET on July 26.

The company launched its mini-IPO offering in 2017, offering Class C common stock at $23 per share with a minimum investment of $1,000. Ever since then, it has raised approximately $4M from more than 3,500 global investors who share Sagoon’s vision of a social commerce platform that helps users to Connect, Share, and Earn. The company has also raised approximately $5 million from a strategic partnership.

“We are so thankful for the support we have received from our investors and partners who share our vision of a better social networking experience. We have had a successful total raise of $5 million, which has enabled us to launch our Android app and continue the development of other key features of our platform,” said Govinda Giri, founder and CEO, Sagoon. “We are continuing to move ahead with the development of our iOS app, as well as our social smart card, to achieve our mission of bringing a more optimal social experience to those underserved across the globe.”

Sagoon will continue the development of its iOS app and innovative Social Smart Card, with targeted release by the end of 2018. Sagoon’s Social Smart Card will allow users to earn money while shopping, redeem coupons, and gift their loved ones. The company considers the social smart card and the iOS app to be game-changers, particularly within the $300 billion social e-commerce market.

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