San Francisco based Bebo popped a few bottles of champagne and announced a very healthy $15 million round of financing, led by Benchmark Capital. Bebo is one of the largest and fastest growing social networks, with 24 million users and 2.5 billion page views per month.
This is a deeply funded market niche. Market leader Myspace is owned by News Corp. Facebook is funded to the hilt. Friendster is backed by Kleiner Perkins (and Benchmark before the recap). Newcomer Tagworld raised a healthy $7.5 million from DFJ. And tagged, focused on much younger audiences, raised $7m from Mayfield.
Bebo is focusing on non-U.S. growth, particularly the UK. That makes a lot of sense. The U.S. market is completely saturated between Myspace and Facebook.
Update: Jeff Clavier has a post that clarifies Bebo’s numbers.