Funding Daily: VC helping hands lead to startup happy feet

Good thing we start happy hour late here at VentureBeat, or we would have missed Fab.com’s big news yesterday afternoon. In other $100+ announcements, Penguin took an independent, self-publishing platform under its wing, and Microsoft and Yammer sealed the deal. If its under $100 million, does it still count as news? Yes! So keep on reading for what happened today, above and below the $100 million threshold.

Presents for social gifting service Wrapp: $5M more funding, Reid Hoffman joins board

Who says gift cards aren’t cool? After landing $5.5 million in a first round of funding last November, social gifting service Wrapp, which lets you easily send gift cards to friends through Facebook, today announced that it’s received an additional $5 million for the round led by Greylock Partners and international VC firm Atomico.