Seriously, how many social networking sites do we need? $15m? holy shit man, maybe I’ll start one too… so I can buy up Loopwheeler and Spruce after I cash out… LOL…

You?re reading it here first: Bebo, an SF-based social networking site which is in the middle-ground between MySpace and Facebook, and among the biggest in UK, Ireland and New Zealand, has received $15 million in venture funding from Benchmark Capital.Bebo will use the funding to expand the U.S. team and open a London office. It has also hired a chief privacy officer, who will be announced soon.

Bloggers Blog: Bebo Raises $15 Million in Venture Capital Financing