Sagoon Announces its Reg A + “Mini-IPO” for Public Investment: Should you Invest?

0
NCHL

Sagoon, as we’ve heard as a growth stage social commerce platform since a long time, has offices located in Washington DC, New Delhi, and Kathmandu. The company has 18 team members, claims to have more than 5.6 million users, and 4,000 investors globally. The social commerce start-up has announced the launch of a new round of investment opportunities to a new pool of potential investors around the world again.

As the company has told, the US Securities and Exchange Commission (SEC) recently qualified the company’s offering statement. Sagoon has planned 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 launched full-version app on Android, Sagoon Lite, and Social Smart Card on iPhone, Android, and a web app for browsers.

Sagoon Announces its Reg A + “Mini-IPO” for Public Investment: Should you Invest? 1

“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 about 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 a 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”.

According to the company, Reg A+ “Mini-IPO” offering provides an opportunity for the non-accredited general public to invest and own the stock in the company. Sagoon has partnered with the FundAmerica and Prime Trust who support maintaining the US government compliance and regulation for smooth investment processes.

Interested investors should read the Offering Circular before investing. Though the company claims to be in profit, several sources show that the company isn’t actually performing the way as it has presented itself. You can know more about this investment from here: Go to website

Share.

About Author

Techsathi is Nepal’s #1 Tech News Portal covering everything about Technology, Gadgets, Start-ups, Entrepreneurship, and all sorts of technology-related analyses and activities.

Leave A Reply