Date: 1st June, 2020
Sagoon (company) has announced its Reg A + “Mini-IPO” for public investmentNow anyone can invest in Sagoon using their credit card and cryptocurrency
WASHINGTON DC , June 1, 2020 - Sagoon (www.sagoon.com), the social commerce start-up is delighted to announce the launch of a new round of investment opportunity to a massive pool of potential investors around the world, who already form a large part of its 5 million users, fans and supporters.
The US Securities and Exchange Commission (SEC) recently qualified Sagoon’s offering statement. The company plans to sell more than 300,000 shares of Class C Common Stock to the general public at $30 per share, with the minimum investment being $900. The investment opportunity is being offered for a limited span of time, on first-come first-serve criteria.
In 2017, the company launched its first Reg A + (Mini-IPO) offering at $23 per share and raised $4.6 million from 4,000 investors globally. Since this fundraising round, Sagoon has made a lot of progress that includes launching Sagoon full-version app on Android, Sagoon Lite, and Social Smart Card on iPhone, Android, and a web app for browsers; acquiring more than 5 million users on the platform.
“We are proud and excited for the support we have received so far from investors around the world, who share our vision to build a meaningful social connection with the people who we associate from our childhood to the old age. We have worked incredibly hard to build Sagoon into a platform that meets the needs and interest of a global user-base – one where they can not only connect with friends, but also engage in social commerce initiatives and earn money for the time they spend on the platform”, said Govinda Giri, founder of Sagoon. “We are also excited on discovering that our users from Nepal and India love our product, and use it more than 23 times a day, and spend more than an hour on it. We have recorded 30% weekly growth through word-of-mouth. Our strong and dedicated team believes that we are uniquely positioned to succeed within this underserved market of users who are looking for a secure and knowledge-based social experience”.
Reg A+ “Mini-IPO” offering provides an opportunity for non-accredited general public to invest and own the stock in the company. Sagoon has partnered with the FundAmerica and Prime Trust who support to maintain the US government compliance and regulation for smooth investment processes.
The company is currently accepting investment from public and institutional investors, which is open only for a limited time. With the money raised from this funding round, the company plans to expand the user-base, scale the platform and continue to release new product features.
Anyone interested in owning of part of Sagoon can visit : https://www.sagoon.com/invest , where the Offering Circular is also available. Interested investors should read the Offering Circular before investing.
Sagoon (company) is a growth stage social commerce platform, with offices located in Washington DC, New Delhi and Kathmandu. The company has 18 team members, more than 5.6 million users and 4,000 investors globally. The word “Sagoon” is derived from the Sanskrit word “shakuna”, meaning which translates to “an auspicious moment” or “good luck” in English.
Disclaimer- An offering statement regarding this offering has been filed with the SEC. The SEC has qualified that offering statement, which only means that the company may make sales of the securities described by the offering statement. It does not mean that the SEC has approved, passed upon the merits or passed upon the accuracy or completeness of the information in the offering statement. You may obtain a copy of the Offering Circular that is part of that offering statement at https://www.sec.gov/Archives/edgar/data/1639953/000110465920025100/tm2010966d1_253g2.htm
You should read Offering Circular before making any investment.