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There's a new mobile app in town that promises to make you rich while you socialize on internet. Sagoon, the social commerce platform intends to combine social media and e-commerce and was developed with a goal to define the global standard for social media with the social path-Connect, Share and Earn. As per the app developers, Sagoon and has already garnered more than 2.2 million user base and in the first funding round, the company had raised over $1.6 million from more than 1600 people.
The new interesting concept and the claims of crowd funding spiked our interest in the app and we at Gizbot reached out to Mr. Govinda Giri, Founder and Architect, Sagoon. We asked some questions to the founder and here's what we found out in our exclusive interaction with Mr. Govinda Giri.
We wanted to understand from the founder that how can Sagoon make a difference and offer something entirely new when we already have Facebook, Instagram and Twitter working as business platforms for users around the globe. Mr. Giri replied, "Social networks such as Facebook, Twitter and Instagram have become more business-centric by frequently inserting brand promotions from different companies, thereby diverting from being pure social platforms. Sagoon intends to address this problem by giving users a platform to build true connections with their loved ones, share useful experiences and earn while socializing".
Mr. Giri also added that the team wanted to create a unique platform that adds value by humanizing, where one can voice his/her opinions, feelings, emotions or even confessions without being judged.
On being asked what the app's revenue model is, Mr. Giri told us that Sagoon will provide every user a free digital card called Social Smart Card which will enable them to buy gifts, fulfill shopping needs and redeem coupons. The company in return will receive a certain percentage out of each transaction. Besides, there are Smart Banners (CPC model) which advertisers can use to tell a transformational story that's designed to engage viewers emotionally. And lastly, the app also has display ads that work on cost per thousand impressions model (CPM model).
Security can be a major concern with social and e-commerce apps and Mr. Giri informed us that the team maintains the right standards of security by following high security measures to safeguard personal information and data shared by users. He added that the team does that by making sure that none of the information passes out from Sagoon. Sagoon don't disclose the user's information with any third-party source. Further, Mr. Giri also informed us that the team is in the process of deploying machine learning and integrating Artificial Intelligence in the system.
We also cleared our doubts on the app's go-to strategy of making users rich and asked the founder if Sagoon follows a digital multi-level marketing model. Mr. Giri told us that every user will earn rewards and points that they can redeem on our Social Smart Card module. The more users socialize on Sagoon using its features like My Day, Secret and MoodTalk, the more rewards they'll receive on their Social Smart Cards.
Social Smart Card seemed quite an interesting strategy and we couldn't stop ourselves from gathering more information on it. The founder informed us that Sagoon intends to become a pioneer in social media monetization. Each user will be provided with an online Social Smart Card that they can use to redeem coupons, purchase gifts for their friends, family and loved ones. The more they spend time on Sagoon socializing, the more they will collect points and special rewards on Social Smart Card which they can later use for purchasing purposes. Smart card be a cross-platform product which will work across multiple vendors and providers.
We were also quite keen to understand how the Sagoon team plans to utilize the $4.8M in funding for their consumers and business in future. Mr. Giri replied that he funds rose by the team from two public funding rounds, i.e; $4.8 million is being channeled in the development of our future product offerings, user growth, customer service, infrastructure and adding industry-recognized talent to the team.
At the end, he also added that Sagoon is looking forward to expand in different markets, the details of which will be shared soon.