WASHINGTON, June 1, 2020 /PRNewswire/ — Social commerce start-up, Sagoon, announces a new opportunity for potential investors globally.
The US Securities and Exchange Commission (SEC) recently qualified Sagoon’s offering statement. More than 300,000 shares of Class C Common Stock are being offered to the public at $30 per share (minimum investment $900); availability is for a limited time period on a first-come, first-served basis.
In 2017, Sagoon launched a Reg A + (Mini-IPO) offering at $23 per share, raising $4.6 million. Since then, Sagoon has launched the Sagoon Lite app on Android; Social Smart Card on iPhone and Android; and a web app for browsers, while acquiring over five million users.
“We are excited about the support we have received from investors who share our vision to build meaningful social connections,” says founder Govinda Giri. “We have striven to build a platform that meets the needs of a global user base – where they can connect with friends and also engage in social commerce, earning money for time spent on the platform. We are excited to witness an enthusiastic response in Nepal and India. We are uniquely positioned within this underserved market, where users are looking for a secure, knowledge-based social experience.”
The Reg A+ “Mini-IPO” provides an opportunity for both public and institutional investors. Sagoon has partnered with Fund America and Prime Trust to maintain US government compliance in the investment process. Money raised will fund expansion of the user base, scaling of the platform, and the release of new product features.
Potential investors should read the Offering Circular prior to investment.
Sagoon is a social commerce platform, with offices in Washington DC, New Delhi and Kathmandu. It has 5.6 million users and 4,000 investors globally. The name is derived from the Sanskrit word “shakuna”, meaning “an auspicious moment” or “good luck”.
Disclaimer: The SEC has qualified our offering statement, allowing Sagoon to make sales of the securities described therein. It does not mean the SEC has approved, or judged the merits, accuracy or completeness of information in the offering statement. A copy of the Offering Circular that is part of that statement is available here.
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