Ulf Waschbusch will become the new Chief Product Officer at Garena, a Singapore-based gaming software company with over 25 million users worldwide.

MySpace recently launched a new campaign that brings fans closer to their favorite artists. The campaign, dubbed “Fan Video”, inserts you into a scene with one of eight top music artists, including 50 Cent and Alicia Keys.

With more users, more revenue potential, and less competition, MySpace’s Open Platform may very well be the best business opportunity this year.

Fresh off the heels of their release of the “World’s First Live Broadcast Data Application”, Groovy has now produced a screen saver version for both Windows and Mac.

The former SVP of Engineering & Chairman of OpenSocial will now be grooming startups for success.

In June, three MySpace executives left to start Blue Rover Labs. We’ve since done some some sleuthing and think we may know what they are up to.

In buying Los-Angeles based ShopIt.com, Altrinsic shows that there are emerging opportunities in the social-commerce space. Entrepreneurs and investors should take notice of both the opportunities and the risks.