KATHMANDU, July 1: Sagoon, a Washington DC based social media startup founded by Nepali immigrant to US, has announced an investment opportunity for accredited investors to buy as little as $5,000.
“Our team has been working diligently to ensure Sagoon helps solve the negative aspects users typically experience on popular social media sites,” Sagoon founder Govinda Giri said in a statement, “Thanks to the US JOBS Act, we’re able to reach people who are passionate about our mission and offer those individuals the opportunity to participate in helping us change the world.”
Sagoon.com offers a one-of-a-kind social commerce platform for users worldwide and plans to launch an equity crowdfunding initiative with the help of BankRoll .
The amount of capital raised will be used to expand the platform’s user base, enhance product infrastructure and develop and launch a mobile app, reads the statement.
Sagoon site includes several applications for registered users, including “My Day” (daily task manager), “Mood Talk” (mood chatroom), and “Open Secrets” (secret sharing application). With Mood Talk, users can create custom emoticons and stickers for private or group chats.
The company said it will introduce its Social Smart Card which compensates users for interacting with the site’s features.