Delhi, India, March 14, 2018- Sagoon, the social commerce platform enabling its
users to Connect, Share, and Earn, announced that it has entered into agreement
for a $5 million investment from HT Overseas Pte Ltd (“HT Singapore”), a wholly-owned
subsidiary of HT Media Limited (“HT Media”), one of India’s oldest and largest
deal with HT Singapore will enable Sagoon to reach nearly 460 million Indian internet
users, a large chunk of Sagoon’s initial south Asian target market, through
different media properties owned by HT Media. HT Media’s publications include
English newspapers Hindustan Times and Mint, and Hindi daily Hindustan, as well
as several other digital properties and FM radio stations.
will continue the development of its innovative Social Smart Card, planned for
release by the end of 2018, and allowing Sagoon users to earn money while
shopping, redeeming coupons, and gifting their loved ones. Further, Sagoon is
rigorously working towards developing and launching an iOS app. The company
considers the social smart card and the iOS app to be game-changers,
particularly within the $300 billion social ecommerce market.
are thrilled to enter into this agreement with such an influential partner like
HT Singapore. The reach of Hindustan Times will enable us to further connect with
a large market of Indian internet users, which is second largest in the world,”
said Govinda Giri, founder and CEO, Sagoon.
deal follows the successful launch of the Sagoon mobile app
for Android in January. With more than 580,000 app downloads in just two
months, Sagoon now boasts 1.6 million users across its mobile and web-based
social commerce platform. The Company continues to build market share,
onboarding those within the 2.8 billion social network users across the globe who
are looking for a better social experience than is provided by current
investment in Sagoon is a testament to the wonderful product that they have
built and to the preferred social experience they are providing to users around
the globe. We truly believe Sagoon has the potential to change the way people
connect, share, and earn via social media and we have great excitement to be
part of the journey,” said Ateev Chadda, Head of Equity Team, Hindustan Times.
solves a glaring problem in today’s social media landscape – social networks
are not set up for ecommerce. Direct commerce between users and sellers and amongst
users is prohibited, and users earn no financial rewards for being a direct
source of revenue. There is also a missed opportunity to make gift cards,
coupon offers, and discounts purely social.
Company launched a Regulation A+ offering 2017, offering Class C common stock
at $23 per share with a minimum investment of $1,000. Since, it has raised
approximately $3.4M from more than 3,000 investors globallythat
share Sagoon’s vision of a social commerce platform that helps users to Connect,
Share, and Earn. The company raised its other $1.4M privately in early 2016.
A+ offerings provide an opportunity for the non-accredited general public to
invest and own stock in the company. The company is still accepting investments
from public and institutional investors and can be accessed through its website www.sagoon.com/invest, where the Offering Circular is