Here’s the latest interview by Aishah Mustapha from TheEdge with Ganesh Kumar Bangah, the new CEO of social networking service Friendster.

Video is broken into 3 parts:

Part 1:

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The on going rumours has been confirmed that Frienster will be acquired by an Asian firm. The deal, expected to be worth over US$100 million, would allow MOL Global to acquire 100% of Friendster.

Although the acquisition would allow Friendster to enhance its presence in Asia, and MOL to get more people to use their payment channel, I don’t see why this deal will benefit the users of Friendster.

First of all, Friendster already has an existing partnership to offer Friendster Wallet and Friendster Gift Shop that involves accessing to MOL’s payment channels. Secondly, MOL has no background on social networking. How would a payment gateway provider like MOL make improvements on Friendster?

What Friendster needs now is more contents and to be specific, localised contents in each country across Asia.

Original Friendster investors include Kleiner Perkins Caufield & Byers, Benchmark Capital, DAG Ventures, IDG Ventures and other individual investors.

Press Release after the jump. Don’t forget to check out the new Friendster portal at Friendster.com

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Spammers are once again turning their efforts to trusted social networking sites to lure in unsuspecting victims, and this time it´s Facebook.

Symantec Security Response has observed that spammers are attempting to use Facebook´s popularity to spread Trojan.Bredolab, a threat that has been consistently and widely distributed this year.  This trojan is capable of downloading password stealers, bots, rootkits, backdoors and misleading applications.

Spammers are misleading users by sending a false Facebook notification email about their password.  Along with the message is a .zip file that contains Trojan.Bredolab.

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For those who has the perception that Social Media is dying, check out the video after the jump.

I hope this video will give you a better understanding about the impact of social media in your daily life.

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Friendster users in Malaysia can now use their Friendster Wallet to buy virtual gifts, goods and games. These new entertainment offerings will be free to use and will also include optional premium element.

The social networking site partnered with MOL AccessPortal Berhad (MOL), a leading payments provider leveraging a network of over 500,000 physical and virtual payment channels worldwide, to power the Friendster Wallet and a payments platform enabling micro-spending for over 115 million users on Friendster.

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A new investment of $100 million that is reportedly about to be made in Twitter could make this microblogging service worth a whopping $1 billion, that’s a lot for a start up!

Twitter.com alone gets about an estimated 54 million visitors a month with most of their users accessing the service via third party clients such as TweetDeck & Echofon.

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