I know we are a little late in giving you the insights, but as they say ‘Better late than never’.
We opened this window of opportunity for the general public on 3rd Feb and instantly realized that the excitement among our supporters and believers of co-owning Sagoon was much more than our excitement of rolling out this opportunity.
Within a couple of days, over 500 people had invested. This number reached to over 1000 in one month and crossed the figure of 3400 investors in around two months. On 31st march, the last day of the first funding round, the number of investors and investment reached to a whopping 3446 people and $3 million, respectively. These figures reflect nothing but SUCCESS and we attribute it to the hard work of each and every employee who worked from the US, India and Nepal. We will use the amount raised to launch the mobile app, which our users have been requesting for a long time. Afterwards, we will roll out the Social Smart Card, which we have been proclaiming will change the face of social media landscape. Simultaneously, we will work on setting up a technology lab in IIT, New Delhi and start making a framework of an IT hub in Nepal. Currently, we are working hard to launch version 2.3 to provide our users with new features, exciting interface and smooth functionality.
The first funding round of Sagoon Mini-IPO would not be successful without industrious efforts of our customer care team. They worked relentlessly and were always on their toes to answer every chat/call as quickly as possible. During the phase when the volume of the calls was high, some of the customer care executives slept just for 4-5 hours and that too in the office. They worked 18 hours a day and still had energy enough to send suggestions as per their talks with prospective investors. The energy and zeal were at peak at Sagoon during these two months, and one can still sense it in the way the teams are working towards the goals.
During the last leg of the first funding round, the founder of Sagoon, Govinda Giri, came in front of the entire world through a live FB video to clear all the questions that people had been asking. Here is that video:
Post this video, we experienced a huge traffic on the website. The number of queries had increased, which subsequently increased the number of investors per day, especially from the US, Canada, India, Great Britain and South Korea. Some of the investors invested twice and some went to the extent of investing over $10000. This is the trust and faith they showed in Sagoon, and we will make sure that they get maximum worth of their investment. Here are few of the testimonials they sent to us:
I believe in the vision of Sagoon and Govinda ji’s efforts. Lots of thank you for giving me the opportunity to invest. – Ram Kumar Phuyal
I feel so glad and proud that Sagoon gave me the opportunity to invest. Thank you so much and lots of good wishes for your future steps. – Amit Kr. Shah
Special thanks to Govinda Giri website for sharing his vision with every common man and giving them the opportunity to be a part of Sagoon. I will always support Sagoon and its vision. – Arjun. Bahadur Raut
These are not just words, these are the blessings. This is something that motivates us; this is something that makes us feel that we are going in the right direction.
Many Sagoon users also invested in Sagoon and the joy and sense of ownership they experienced after completing the investment could be easily felt in their excited and energetic voice. We felt happy and satisfied upon seeing this because when users see that your product is worth investing, you know that your product is poised to create huge waves.
Following are the benefits we extended to potential investors:
I know that we have been entrusted responsibilities and we will make sure to fulfill them.
Let’s throw some light on what we did before launching the first funding round?
It was important to give people a common platform where they could read all the information they needed and invest. That is why we developed a separate page – www.sagoon.com/invest and got the investment process on this webpage linked with Fund America. The entire process of writing, designing and developing the smooth and flawless page took a month, and the time spent on it seemed worthwhile when we saw it was handling thousands of users without any glitch.
We also contact many PR agencies in Nepal and India so as to broadcast this opportunity to all our believers and supporters when the funding round goes live. Simultaneously, we devised the marketing plan with the help of our partners to leave no stone unturned to present this opportunity to as many people as possible.
The aforementioned really helped us in reaching out to a wide range of people in different corners of the globe. Yes, there were coordination challenges sometimes, which is something every company comes across.
All we know is we worked extremely hard for two months to dish out the opportunity of co-owning Sagoon and potentially earn huge returns to the general public. And we are glad that the common people showed immense interest and thousands of them joined our vision of creating the world where everyone makes money while socializing.