Sagoon Inc, a US-based online provider of a dynamic social commerce platform has launched an opportunity for Indian citizens to invest and reap the long-term valuation benefits. A promising start-up is showcasing a rapidly growing user base and has witnessed a burgeoning valuation since its launch in 2014. Sagoon is gradually becoming a firm to reckon with having more than 3000 global investors and $4.8 million raised. Govinda Giri, Founder of Sagoon, speaks about his journey, aspirations and vision herewith and invites one and all to write to him for any queries related to this unique proposition in India:
Tell us about Sagoon and the inspiration behind starting this social commerce platform.
Govinda: I never could digest the way search engines delivered results for organic searches and always believed that there is a legitimate scope for improving the quality of results displayed. After researching about search engine functioning, I had connected with a Gurgaon based company for developing an innovative algorithm. However, the results were not satisfying until I met Dr Niladri Chatterjee from IIT, New Delhi. Later the realisation had dawned on me that social sharing platforms would steer future of the internet. Sagoon, after needful changes, was officially launched in July 2014 and enjoys the patronage of 2.2 million users.
How do you see the platform evolving in the next five years?
Govinda: In five years, Sagoon would potentially generate $34B as social network ad revenue globally with 2.8B social media users earning money through socialising on our platform.
Why should one invest in Sagoon?
Govinda: Investors stand to reap unprecedented dividends from their share capital as Sagoon would take giant strides in social media. Holders of Common Stock are entitled to receive dividends, as may be declared from time to time by the board of directors out of legally available funds. Each holder of Class A or Class C Common stock is entitled to one vote (Class A) or one-tenth of it (Class C) for each share on all matters submitted for voting by the stockholders, including the election of directors.
How do you plan to generate revenues?
Govinda: At the initial stage, for advertisers there will be discount coupons for shopping, displaying ads, and more. Every thousand impressions would incur a cost to the advertiser. Providing every user with a free digital card for shopping which when used would entitle our company to receive a predefined percentage of every monetary transaction, and allowing advertisers to relate transformational stories through Smart Banners.
How did the idea of raising capital in India using a regulation A+ Mini IPO strike?
Govinda: The financial success of US citizens who have been reaping substantial potential returns by investing in early-stage start-ups inspired me, and I aspire to provide every Indian with the same opportunity through this mini-IPO.
How sustainable is your business model?
Govinda: Our business model orbits around developing meaningful relationships among users and sharing revenue with them which is self-sustaining.
Do you think it’s the right time to build this platform?
Govinda: With several social media platforms playing by “let's highlight what’s wrong with the world” approach highlighting the negatives of the society, there is a need for a wholesome and positive platform like Sagoon.
What is the unique value proposition of Sagoon?
Govinda: Our game-changer would be the Social Smart Card which would fulfil all shopping and gifting needs of users and help them earn money while engaging in pursuits described above.
How do you plan to deploy the raised capital to further the growth of the company?
Govinda: Share capital raised will primarily be used for funding the development of our future product offerings, user growth, customer service, infrastructure building, and adding industry recognised talent to the team.
Which startups do you see as your competitors?
Govinda: We don’t have any direct competition since our concept is one-of-its-kind. To promote user growth, we would adopt strategies similar to that of Facebook.
Sagoon brims with potential that you too can leverage by investing in the mini-IPO. The phenomenal growth in company’s valuation in just a short span of 4 years is undoubtedly the motivation on which you can anchor your hopes. To know more about the company’s portfolio, please visit: https://www.sagoon.com/pre-invest.
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