Sagoon, an online social commerce platform, has announced that it has conquered its first 1 million users milestone. Sagoon website now has over 1.1 million users from around the globe.
This milestone comes at a good moment as Sagoon is currently preparing to launch its mobile app this December. The company seeks to utilize that loyalty to drive sharing and engagement once the app is launched and available to the public.
“We are thrilled to have passed the one million user mark on our web platform so quickly, and with such a diverse and global audience,” said Govinda Giri, founder and CEO, Sagoon.
“From the beginning, we’ve sought to build a social network that met the needs of a broader group of people, and the response we’ve gotten from our users – all 1.1 million of them – has shown us that we are headed in the right direction. But our journey does not stop here. We have many people yet to reach, and with the launch of our app next month, we will continue to help as many as we can to connect, share, and earn.”, said Mr. Giri.
Side by side, the company is also completing its Regulation A+ offering. Sagoon has offered 21 percent of its stake to the customers through this Mini-IPO, offering 869,564 shares of Class C Common Stock at $23 apiece. The company accepts a minimum investment of 43 shares, costing $1000, and the maximum offering of $20,000,000 of total shares. The company did this under the Regulation A+ of the United States’ Jumpstart Our Business Startups (JOBS) Act, which allows startups like Sagoon to raise investment up to $50 million from unaccredited investors.