June 3, 2020 | Investopaper
Sagoon, a social e-commerce start-up company founded by Nepalis living in the United States, has issued a second mini IPO to raise investment from around the world.
Sagoon has more than 5.6 million users from all over the world. The Securities and Exchange Commission (SEC), the US stock market regulator, had earlier given permission to Sagoon for issuing shares.
In the second phase, Sagoon will sell 300,000 shares of ‘C’ category ordinary shares to the public at the rate of $30 per share. The general public around the world will be able to buy at least 30 lots of shares (nine hundred dollars) of Sagun. The company has issued shares for a limited time so that the first applicant can buy them.
Sagoon First Mini IPO in 2017
Sagoon launched its first ‘Rage A Plus’ mini IPO in 2017 at $23 per share. At the time, more than 4,000 investors from around the world had invested $4.6 million in Sagun’s shares.
After raising investment in the first phase, Sagoon has made great strides. It has unveiled a web application for Sagoon Lite on mobile’s Android platform, Apple’s iOS platform and social smart cards and web browsers on Android.
The ‘Rage A Plus’ mini IPO issue has provided a golden opportunity for the public to acquire ownership by investing in shares in a start-up company. Sagoon has partnered with Fund America and Prime Trust to facilitate and regulate the investment process in the US stock market.
Sagoon will accept investments from public and institutional investors in the current public offering. This time the issue will be open only for a limited time. The company will use the money raised from the public investment to increase the user base, expand the platform and add new apps, features and features of Sagoon.
Sagoon, incorporated in the United States, India, and Nepal is a social commerce platform, focused on gifts and coupons for socializing.
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