Greylock’s Reid Hoffman Invests in Swedish Social Gifting Company

Stockholm-based Wrapp, which was founded by former executives from Spotify, Groupon and other companies, has just received a $5 million gift from Reid Hoffman of Greylock Partners.
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News Byte

Wrapp Ties Up Another $5.5 Million for Play on Gift Cards

Social gifting company Wrapp has raised $5.5 million in a first round of funding. The Swedish company, which is planning to expand to the U.S. and the U.K., has created a way for people to easily give gift cards to their friends through Facebook, where mutual acquaintances can contribute additional funds. The round was led by Atomico.

Google and Khosla Ventures Back Former Googlers' Weather Insurance Start-up

As those of us who hoped to go sledding in San Francisco last weekend know too well, weather forecasting is not terrifically precise. But WeatherBill, a company that sells weather insurance to farmers, just got a big vote of confidence from folks in the high-tech world for its weather simulation modeling.

Seesmic Raises $4 Million in Funding From Salesforce.com

In an interesting social enterprise move, popular social networking collaboration tool Seesmic is taking a $4 million investment from Salesforce.com, as well as from Softbank. The San Francisco-based Seesmic has one of the top desktop and mobile applications for monitoring a consumer’s various feeds from Twitter, Facebook and more.

A Picture's Worth a Thousand Words–So What Does a Big Smile in a Layoff Story Mean?

Happy days aren’t here again, it seems. Still, I am not quite sure what to make of his big, happy smile on Seesmic founder Loïc Le Meur’s face, which went with a story in the New York Times about start-ups cutting costs. In fact, the whole Seesmic crew is grinning awfully hard, putting a very game face on recent layoffs that cut the staff at the video blog service by more than a third.