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Sagoon’s Mini-IPO is LIVE now. The company plans to raise $20 million

Monday, February 13, 2017 4:32
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(Before It's News)

New Delhi, Feb 13, 2017: Sagoon Inc. today announced that it has launched an online public offering to raise $20 million from the general public in its next round of funding. Beginning today, everyone from anywhere can buy a piece of Sagoon with as little as $299 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 today onwards, the company has publicly started selling its 869,564 shares of Class C Common Stock at $23 per share; the minimum purchase will be 13 shares. The offering is being conducted on a best efforts basis through Sagoon’s own website www.sagoon.com/invest, where the Offering Circular relating 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 believe in our dream, so that each one of them gets a chance to help 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 makes it possible for us to have a positive impact on many sides of our society”.

It is the opportunity that was not available during the early stages of other social media companies like Facebook and Twitter. This means there is a huge potential 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, 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.

For all the media queries, please write to Swati Dayal at [email protected]

About Sagoon

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.

For more information, please visit www.sagoon.com.

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/1639953/000114420417002868/v456646_partiiandiii.htm

YOU SHOULD READ THE OFFERING CIRCULAR BEFORE MAKING ANY INVESTMENT.

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