Sagoon closes Private Placement Offering; Mini IPO in pipeline

Sagoon.com has closed Private Placement Offering from August 15, 2016. Sagoon, a Washington D.C. based social commerce platform founded by NRN, had announced an opportunity for accredited investors to invest in the company from 29 June, 2016. Sagoon became the first startup company of South Asian Company in America to start Private Placement Offering and make general public a part of the company. According to Gobinda Giri, Founder of Sagoon, ‘People came up with queries regarding the investment criteria from the day of Private Placement Offering. There were many criteria and most of the interested candidates could not meet the criteria for investment.’ We have furthered process for investment after the enclosure of the first project, added Mr Giri. ‘The company is coming up with mini IPO. To issue Mini IPO, the Private Placement Phase ought to be completed. So we started with private Placement Offering in the beginning.’ said Gobinda Giri. Sagun will float mini IPO along with mobile apps within few months. There will not be tough process as in Private Placement Offering. Also interested can start investment from less amount as well.The mini IPO will most probably start within 3 months. Sagoon will soon launch ‘Social Smart Card’ after Mini IPO and the profit will be shared with the smart card users.