Sagoon offers a one-of-a-kind social commerce platform and plans to launch an equity crowdfunding initiative with the help of BankRoll. The capital raised will be used to expand the platform's user base, enhance product infrastructure, and develop and launch a mobile app.
The site includes several applications for registered users, including "My Day" (daily task manager), "Mood Talk" (mood chatroom), and "Open Secrets" (secret sharing application). Mood Talk lets users create custom emoticons and stickers for private or group chats; personal and group conversations will be deleted after 24 hours. If users prefer anonymity, they may create and share secrets with the rest of the Sagoon community or just with one specific user. As with the popular millennial app Yik Yak, Sagoon features hot secrets, with the ability to like, dislike, share or comment on secrets, and to track secrets to see which cities and countries they have reached.
Later this year, Sagoon will also introduce its Social Smart Card, which will compensate users for interacting with the site's features. Users will receive a free Smart Card when they create a profile and join the Sagoon community; they can then buy and send gift cards to connected friends and family. Smart Cards will be redeemable at certified retail partners. All Sagoon Smart Card users will receive 5% back on transactions.
The information contained in this press release is provided for information purposes only. The information in this press release is not an offer to sell or solicitation of an offer to buy or subscribe for the securities of Sagoon, Inc., nor shall there be any sale of such securities in any country or state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such country or state. Any such offer or solicitation will be pursuant to exemptions from registration requirements set out in applicable securities laws and made only by means of delivery of the Private Placement Memorandum dated June 6, 2016, as the same may from time to time be amended, relating to a particular investment to qualified investors in those jurisdictions where permitted by law, and only to "accredited investors" as defined by Section 501 of Regulation D of the Securities Act of 1933. Investing in securities is not suitable for every investor and there is a risk of loss of your entire investment. This press release is a summary only of certain important matters relating to Sagoon, Inc. and is qualified in its entirety by the detailed information in the offering materials. Prospective investors should take note of the risk factors described therein. Nothing in this press release is intended to be, and you should not consider anything herein to be, investment, accounting, tax or legal advice. For more information on investing in private placement offerings of securities, go to: https://www.investor.gov/news-alerts/investor-alerts/investor-alert-advertising-unregistered-securities-offerings.
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SOURCE Sagoon Inc.