Sagoon, a Washington D.C.-based social commerce platform founded by Govinda Giri, an immigrant from Nepal who worked at the Pentagon for 12 years, has announced a private placement offering for potential investors for as little as $5,000. The company’s unique social commerce platform allows registered users to create and share social content, and users will soon be able to earn money for interacting on the site. Sagoon offers several applications that enable users to share information and strengthen relationships with family and friends.
“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 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.
Read More: Athena Software Releases New and Enhanced Electronic Health Documentation Feature
The social commerce site includes several applications for registered users, including “My Day” (daily task manager), “MoodTalk” (mood chatroom), and “Secrets” (secret sharing application). With MoodTalk, users can set their mood using simple icons, which allows them to more easily communicate feelings with their contact lists. Additionally, 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 will receive a free Social 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 Social Smart Card, redeemable at certified retail partners. All Sagoon Social Smart Card users will receive 5% back on all transactions.