Date: 29th June, 2016
Sagoon, a Social Commerce Platform based in Washington D.C., Now Offers Accredited Investors an Investment Opportunity.Sagoon’s social commerce platform will allow users to earn money while they socialize and exchange information.
New Delhi, India (June 29, 2016) Sagoon, Washington DC and New Delhi based social startup has announced today it has launched a private placement (506 ©) an investment opportunity for accredited investors in India to buy as little as $5,000.
Sagoon 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.
“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. “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 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. Similar to the popular application Snapchat, Sagoon deletes personal and group conversations after 24-hours. If users prefer to use Sagoon anonymously, they may create and share secrets with the rest of the Sagoon community or with someone specific. As with the popular millennial app Yik Yak, Sagoon features hot secrets, the ability to like, dislike, share or comment on secrets, and allows users to track secrets to see which cities and countries it has reached.
Later this year, Sagoon will introduce its Social Smart Card which compensates users for interacting with the site’s features. Users receive a free Smart Card when they create a profile and join the Sagoon community. From there, registered users may buy and send gift cards to connected friends and family. Rather than having multiple gift cards, users may take advantage of one Smart Card, redeemable at certified retail partners. All Sagoon Smart Card users will receive 5% back on all transactions.
“I am glad and excited to offer an investment opportunity to India and Indian investors. For the very first time in the history, we are able to advertise to accredited investors from India that they are allowed to invest in an early stage tech startup like Sagoon that is incorporated in United States,” said Swati Dayal, co-founder of Sagoon. Swati Dayal, also the operations head of Sagoon in India further said, “We want to create more jobs in India, and at the same time we want to extend this investment opportunity to all Indian accredited Investors who never had a chance to earlier become a part of our vision to make India the epicenter of a social media revolution.”
Kendall Almerico, CEO of BankRoll, a JOBS Act and equity crowdfunding platform and one of the top crowdfunding and JOBS Act lawyers in the United States says, “At BankRoll, we are excited to help the Sagoon team use these revolutionary new laws to raise capital online, so they can expand and grow their business and realize their global social commerce vision.”
Sagoon has currently over 255,000 registered users, and has a waitlist of more than one million individuals looking to register on the social commerce platform.
All media inquiries, please contact Bhavna Bhatia at email@example.com.
Investment inquiries, please contact Swati Dayal at firstname.lastname@example.org.
Sagoon is an early-stage social commerce platform founded by Govinda Giri who spent 12 years at the Pentagon working as an IT professional. The word “Sagoon” is derived from the Sanskrit word “Shakuna” meaning “an auspicious moment” or “good luck.” Sagoon was launched as a search engine in 2009, but later developed into a social commerce platform in 2014. Now, the team of 18 individuals is looking forward to expanding Sagoon and continuing to share its applications with users around the world.
For more information, visit www.sagoon.com.
The information contained in this press release is provided for information purposes only. The information in this press release is not an offer to sell or solicitation of an offer to buy or subscribe for the securities of Sagoon Inc., nor shall there be any sale of such securities in any country or state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such country or state. Any such offer or solicitation will be pursuant to exemptions from registration requirements set out in applicable securities laws and made only by means of delivery of the Private Placement Memorandum dated June 6, 2016, as the same may from time to time be amended, relating to a particular investment to qualified investors in those jurisdictions where permitted by law, and only to “accredited investors” as defined by Section 501 of Regulation D of the Securities Act of 1933. Investing in securities is not suitable for every investor and there is a risk of loss of your entire investment. This press release is a summary only of certain important matters relating to Sagoon, Inc. and is qualified in its entirety by the detailed information in the offering materials. Prospective investors should take note of the risk factors described therein. Nothing in this press release is intended to be, and you should not consider anything herein to be, investment, accounting, tax or legal advice. For more information on investing in private placement offerings of securities, go to: https://www.investor.gov/news-alerts/investor-alerts/investor-alert-advertising-unregistered-securities-offerings.