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.

Why Groupon’s still not well in China despite group-buying uptick

Online group buying is finally proving popular in China, according to a report released on Monday by China Internet Network Information Center (CNNIC). According to the report, Chinese market witnessed an increase of 244.8% in online group buying in the year 2011. Despite a massive blow to Groupon and others last year, Chinese online group buying is finally seeing some light at the end of the tunnel.

Could collaborative consumption work in China? Not yet.

The concept of “Collaborative Consumption” is not new in the West, but it is in the East and especially in China. The term collaborative consumption basically means sharing things with other people — via barter, trade, or rental — and giving access instead of ownership. The Internet has pushed this quaint notion beyond just sharing between friends to create a powerful business model.

Israeli hackers attack Saudi & UAE stock exchange websites

The Middle East has always been a troubled place, and now people are taking to the web to launch their attacks. On Tuesday, a group of Israeli hackers took down the Saudi Arabia stock exchange and the United Arab Emirates stock exchange websites, Israeli newspaper Haaretz reports. The group, which calls itself IDF-Team, was able to paralyze the Saudi stock exchange site and cause delays on the UAE site.

How to teach history (and lots more) with Minecraft

Randy Fujimoto has a mission statement on his website: “A quest to transform education through game-based learning.” That’s a big idea, to be sure, but we think he might have a chance to succeed, especially with his new model for teaching history using, of all things, Minecraft, the new indie gaming sensation that has players exploring, mining and creating in an open, sandbox world.

Worldwide Android game development contest enters final stage

Android game developers around the world seeking wider distribution and exposure for their games have a little less than two weeks remaining to enter their games in the “Get Discovered” Android development contest, sponsored by Best Buy and Hooked Media Group. The contest provides developers a unique chance to win both wide scale distribution through Best Buy’s App Discovery Center and seed funding from Trinity Ventures, a top Silicon Valley venture capital firm. The winner will also receive an online advertisement package from VentureBeat.