The investment done by Mandira Bedi in Sagoon opened the startup to industry-oriented investments for it’s global fundraising initiative. The app has three features- My Day, Secret and Mood Talk, all of them quite similar to other social networking platforms like Snapchat and Instagram.
Mandira Bedi invested funds in Sagoon, the social commerce platform enabling its users to Connect, Share, and Earn. The investment opened the app-based startup for industry-oriented investments for the global fundraising initiative.
The app has three important features – My Day, Secret, and Mood Talk. My Day lets you plan your daily activities, set reminders, keep track of your schedules, and also share events with friends. Secret is a section within the app that lets you have private conversations with messages that disappear, share thoughts with others without disclosing identity, and also explore what others are talking about from the community. Lastly, Mood Talk is a chat feature that lets you communicate with others using ‘moods’ – which basically refers to real-time animated characters reflecting your current state of mind. The chat vanishes automatically after 24 hours, a feature similar to Snapchat and Instagram where you can post content that disappears after a given time period.
Commenting on the occasion, Govinda Giri, Founder and CEO, Sagoon, said, “We are extremely delighted to have Mandira Bedi on board. With this investment she becomes a Sagoon co-owner along with 3000+ investors from the globe. The success of our funding rounds is a strong indication of the trust investors have in our vision, our technology-thinking of services as well as our strong focus on robust model. We have managed to successfully stand out in the social commerce space as an innovator par excellence.”
Expressing her views on the investment, Mandira Bedi adds, “I am proud to associate with Sagoon and strongly believe in their vision to connect the world. I resonate with Sagoon’s vision to reverse the negatives of social media by creating a new meaning of social sharing. Moreover, digital is the future of India across all fields and going by the Digital India vision, I decided to invest in Sagoon since they’re at the forefront of innovative cutting edge technology and have great founders to realize their vision.”
After three successful rounds, Sagoon has so far raised $4.8 from 3000+ investors all over the world. The app has received more than 1 Million app downloads in just two months after the launch. Sagoon now boasts over 2.3 million users across its mobile and web-based social commerce platform. The company plans to further raise $5 million that it will use to hire more data scientists, strengthen infrastructure, enhance technology and promotion for user growth.