Freshly Minted

Freshly Minted: This Unsung VC Fund Anoints Tech’s Biggest Players in China in the U.S.

China's internet lifestyle is mostly lived on mobile, and that market is projected to be three times what the US could ever match, Mr. Richards told Betabeat. (Photo via Getty)

Welcome to Freshly Minted, where we examine an overlooked deal or funding announcement in tech from the past week, and tell you what you need to know, and why it matters.

This week’s deal: GGV Capital, a V.C. firm that focuses on tech companies in the U.S. and China, has raised their fifth fund at $620 million.

The Chinese tech world is like a parallel universe — the Chinese have their own social networks, ecommerce platforms, gaming empires and mobile chat clients. But GGV Capital has had a hand in both worlds for over 10 years, and now that the two markets are colliding, they stand poised as a major power broker between the Chinese and American tech worlds. Read More

Facebook Faceoff

MessageMe, the Addictive App Facebook Tried to Buy Before Cutting It Off, Already Picked Up More Than 1M. Users

Screen shot 2013-03-19 at 8.26.54 AM

There have been a rash of reports recently about Facebook’s mercurial approach to third-party developers. The social network may not want to be “in the business of king-making,” by boosting–or suppressing–traffic to popular apps, as Douglas Purdy, director of developer products, told Reuters. But Facebook is increasingly willing to shut the castle gate on competitors.

While Facebook claims it’s an effort to stop spam and promote apps that add value to the network, “Developers say the crackdown is an attempt to stifle applications that compete with Facebook-owned services,” or pay for ads on Facebook, the Wall Street Journal reported last night.   Read More