Sagoon

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Sagoon
Sagoon logo.png
Type of business Private
Type of site
Social network service
Founder(s) Govinda Giri
Industry Internet
Website www.sagoon.com
Registration Required
Launched 2015
Current status Active

Sagoon is a social commerce platform that currently offers three desktop-only services - My Day, Secret Messaging and MoodTalk. Sagoon is a Delaware, USA-based corporation. It was first launched as private beta in July 2014 in Washington DC; the public beta was launched in November 2015 in Kathmandu, Nepal.

History[edit]

Sagoon was founded by Nepalese American IT engineer "Govinda Giri" of Pentagon and IBM in 2009, but he faced a difficult capital environment and after 14 months of trial and error, he had to shut down his search engine.[1]

In September 2013, he quit his job and started working full-time from the basement of his home. Soon he associated himself with an experienced graphic designer Swati Dayal who started working part-time for Sagoon.[2] Giri spent eight months on market research and analysis of users’ behaviour, and then rolled out Sagoon as a Social Commerce Site. Its private beta was launched in Washington DC by Manisha Koirala.[3]

Giri introduced Sagoon Version 2.0 in November 2015, it was launched by Nepal PM K. P. Sharma Oli in November 8, 2015 in Kathmandu, Nepal.[4][5]

In January 2015, Giri visited India and registered Sagoon India Pvt. Ltd as 100% subsidiary of Sagoon Inc. Swati Dayal became the Executive Director of Sagoon India Pvt. Ltd and later was also promoted as the co-founder of company. After successfully setting up the office in India, Giri visited Kathmandu and hired a few employees to work from there as well.[6]

In May 2015, Sagoon launched "Sagoon Social Smart Card". The digital card is based on an incremental value model.[7][8][9]

In 2016, Sagoon successfully raised $500,000 in the seed funding phase, although many people view it as a Ponzi or pyramid scheme.[10][11][12]

References[edit]

  1. ^ Radha, Anu (25 October 2016). "Social media start-up Sagoon seeks to launch mini-IPO in the US". Livemint.com. Retrieved 28 October 2016.
  2. ^ Gupta, Soumya. "Sagoon Eyes to Tap the US Market for Raising 20 Million". Businessworld. Retrieved 28 October 2016.
  3. ^ "Actress Koirala launches social networking site in Delhi". Kantipur Publications. Retrieved 28 October 2016.
  4. ^ "2nd edition of Sagoon.com launched from Kathmandu". The Himalayan Times. 8 November 2015. Retrieved 28 October 2016.
  5. ^ "Sagoon launches Version 2 with three new applications". República (Nepalese newspaper). Retrieved 14 December 2016.
  6. ^ "Sagoon invites investors". The Kathmandu Post. Retrieved 28 October 2016.
  7. ^ Khedekar, Naina (22 June 2016). "If you spend a lot of time online, Sagoon will help you earn money". Firstpost. Retrieved 28 October 2016.
  8. ^ Revathy, L N (30 May 2015). "Networking platform Sagoon launches smart card to expand its membership". The Hindu Business Line. Retrieved 28 October 2016.
  9. ^ "A Sagoon Future". Nepali Times. Retrieved 28 October 2016.
  10. ^ Ganguly, Payal. "Social network company Sagoon looks to raise crowdfunding". The Economic Times. Retrieved 28 October 2016.
  11. ^ "Sagoon to soon close its Private Placement Opportunity". Dataquest. Retrieved 14 December 2016.
  12. ^ "Sagoon to soon close its Private Placement Opportunity for potential investors". India Infoline. Retrieved 28 October 2016.

External links[edit]