The IPO opens for public from today– Now anyone can own a pie of a startup
New Delhi, Feb 10, 2017: Sagoon Inc. announced the launch of its online public offering to raise $20 million from general public in its next round of funding. Commencing from the February 9th 2017, anyone from anywhere can purchase a share in Sagoon with as little as $299 (INR 20000 Rs. Approximately) and become a valued shareholder of the company.
A week ago, the Securities and Exchange Commission of the United States, qualified Sagoon’s offering statement and from the given date onwards, the company, publicly started selling its 869,564 shares of Class C Common Stock at $23 (INR 1545 Rs.) per share, with 13 shares as the minimum purchase. The offering is being conducted on a best efforts basis through Sagoon’s own website www.sagoon.com/invest, where the Offering Circular related to the offering is also posted.
Govinda Giri, the founder of Sagoon, said “I always wanted to offer this opportunity to my own community, and all those fans & supporters who have always believed in our dreams. The idea was to extend an opportunity to each one of them to play their part in helping us change the world and receive the potential financial benefits that Sagoon aims to share.” He further added “Thanks to the US JOBS Act of 2012, which made it possible for us to have a positive impact on our society, through various ways.”
This announcement brings in an opportunity that was not available during the early stages of other social media companies like Facebook and Twitter. This means it has massive potential for financial reward for every single investor. Also, each investor will get certain benefits that fall in the gambit of the investment amount he/she wishes to invest.
Swati Dayal, the co-founder of Sagoon.com, said “The SEC qualification is the bridge between the present and the future of Sagoon. We are well on our way to becoming the first ever social media platform of the world that rewards its users for spending time here. Further, I really feel proud that for the first time in history, the entire India is getting the opportunity to invest and co-own an early stage tech company.”
Prior to this live offering, Sagoon ran ‘Testing the Water Phase’, wherein the company got over $7 million in indicated interest from more than 4000 investors located in the US, Canada, India, UK and other parts of the world. This success is attributed to the idea Sagoon is built around and the combined efforts of the team working to convert it into reality.
Anyone who is interested in this investment offering can visit www.sagoon.com/invest and invest, as long as it’s legal in their country.
Sagoon is an early-stage social commerce platform with the mission of offering everyone a chance to make money while socializing. The word “Sagoon” is derived from the Sanskrit word “Shakuna”, meaning “an auspicious moment” or “good luck”. Sagoon was first launched as a search engine in 2009, but later in 2014 developed into a social commerce platform.
Sagoon - a new-age social commerce start up, incorporated in Delaware USA, was founded by Govinda Giri, a Nepali by origin and Swati Dayal, a young & passionate entrepreneur from the city of Lucknow, aims to change the way people use and interact social media today.
Sagoon, a home-grown social start up, based in Noida, India is developing a suite of applications that helps build intimacy between family, friends and co-workers, and earn while they socialize.
Contributing to the current wave of startups, Sagoon intends to bring Silicon Valley culture in India to extend local talents an opportunity to innovate and disrupt established social media market from India – the new land of opportunity- by sharing 5% of company’s revenue with every single user.
Sagoon’s sharp focus is on the $300 billion worth social commerce global market. This one-of-its-kind platform has already raised $800,000, and its list of milestones, which currently boasts ‘gaining more than 255,000 global users and ‘a waiting list of over one million’, is also expected to see the revenue of $112,455,000 by 2020.
Sagoon allows people from all over the world to Connect, Share and Earn in the most convenient manner. With the introduction of “Social Smart Card” by the end of 2016, users will receive an online shopping card that allows them to earn money, spend money, redeem coupons and give gifts to their loved ones while sharing and exchanging information. That’s the real game changer! Nowhere on the host of other social media platforms available on the market.
With Sagoon launching Private Placement in next week wherein any accredited investors can invest and won a part of company. This funding round will be followed by Mini-IPO in next three months wherein everyone gets opportunity to invest in Sagoon and share our dream of bringing social media revolution.
Setup a time to interaction with founders, Swati Dayal or Govinda Giri and be the first to cover the BIG story.
Swati Dayal, Director and Co-Founder, Sagoon
Swati Dayal is the co-founder of Sagoon, a Washington DC and New Delhi based online social commerce startup. Being a start-up Co-Founder, Dayal’s chief responsibilities include questioning everything that impacts the business, breaking existing barriers and practices and developing unconventional solutions from ground up. She is heading the company’s marketing, brand and product design, apart from ensuring innovation that cuts across every function and aspects of the business.
Born to a businessman father in Lucknow, Swati had been nurturing the entrepreneurial dream inside, since childhood. All that her ambition needed was a little push.
Prior to co-founding Sagoon with Govinda Giri, a Nepali immigrant to the US, with more than 17 years of experience with the US Government and private sector, Swati was comfortably pursuing her passion for art and design. Sagoon started as a search engine in 2009 to deliver better search capabilities than Google and Yahoo, but shut shop quickly because of financial constraints. Sagoon, as a social commerce platform was formed post that and launched operations in 2014.
Swati initially joined Sagoon as a part time designer but soon she and Govinda, laid the blueprint for a platform designed to revolutionise Social Media by infusing commerce and social together.
Govinda Giri is the Founder of Sagoon, an online social commerce platform that share its revenue with every single user. As Sagoon chief architect, Govinda is responsible for setting the overall direction and product strategy of the company, managing the service and development of its core technology and infrastructure.
Govinda started his professional career as an IT engineer across major US corporations. Having over 15 years of valuable experience in Information Technology Enterprise Solutions with the US government and various other private companies, he has proven expertise in network designing and development of communication tools.
Equipped with a strong background in IT and an extensive skillset which includes SEM (Search Engine Marketing) and Product management, Govinda ideated the concept for Sagoon when he witnessed how the scattered nature of vital online services could confuse users. He created this dynamic venture in order to create a digital platform where people can easily access the realms of E-commerce and social networking at a single place without any hassle.
Born and raised in Nepal, Govinda is currently based in Washington, D.C over 23 years. He is a Cisco certified Network Professional and a Microsoft certified System Engineer. He also holds a patent for Random Vector Model Information Relation Method, a core technology developed to resolve a computing problem. For his contributions to the IT sector, Govinda has been felicitated with the ES Star Performer of the Month award by L-3 Communications.