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Venture Capital News: Sagoon Raises $5M

WASHINGTON, DC, Sagoon today announced it has entered into an agreement for a $5 million investment.
Sagoon, the social commerce platform enabling its users to Connect, Share, and Earn, today announced it has entered into an agreement for a $5 million investment from HT Overseas Pte Ltd, a wholly-owned subsidiary of HT Media Limited, one of India's oldest and largest media companies.

The 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 the English-language newspapers Hindustan Times and Mint, and Hindi daily Hindustan, as well as several other digital properties and FM radio stations.

Sagoon will continue the development of its innovative Social Smart Card, currently 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.

Sagoon is an early-stage social commerce platform that offers users a chance to make money while socializing. First launched as a search engine in 2009, Sagoon evolved into a social commerce platform in 2014 with the mission of helping people to better Connect, Share, and Earn.
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