Wrapp, a social gifting service backed by Greylock Partners and Atomico, is crossing the pond with the U.S. launch of its mobile gift card and retail app. Wrapp, which was available previously only in the UK, Norway, Sweden and Japan, Wrapp is actually launching today with a number of U.S. retailers including Fab, Gap, H&M, Sephora, The Wall Street Journal, Wayfair, and others. As we've reported in the past, Wrapp was co-founded by Rebtel and SendIt founder Hjalmar Winbladh, Spotify founding CTO Andreas Ehn, and lets friends give, receive and redeem digital gift cards using mobile devices, and allows friends to contribute to gifts given by mutual friends. With Wrapp, which offers iPhone, Android and web apps, you sign in via your Facebook account, and you can then tap the Celebration tab on the app, browse your friends or major events, and select the person you want to send a gift card to. All available gift card offers for that friend are automatically listed.john carter trans siberian orchestra trans siberian orchestra little big town little big town bennett bennett






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One thing that has been remarkable about Facebook is its willingness to expand in developing markets that many other consumer Internet companies would otherwise write off because they're hard to monetize. But that growth abroad plus the company's increasing headcount and share-based compensation expenses are eating into its operating margins, according to yesterday's earnings numbers from a revised IPO filing. Facebook made $381 million in operating income (or 36 percent of its $1.06 billion in revenue) in the first quarter of this year. That's down from $388 million in operating income (or 53 percent of its $731 million in revenue) from a year ago. Net income is actually down 12 percent year-over-year to $205 million from $233 million a year ago. Here's a closer look at how revenues and costs are changing for the company: