Yet, Shai Agassi admitted that Better Place will have to hold an IPO at some point.
"Better Place will continue to seek financing from private investors to build electric car recharging networks around the world," said electric car venture Better Place LLC founder and CEO Shai Agassi at a press briefing yesterday.
Israel Corporation (TASE: ILCO), controlled by Ofer Holdings Group, is a shareholder in Better Place.
Agassi added, As long as you can take private money, you take private money. You are allowed to go without short-term decision cycles."
Agassi added, however, that Better Place would have to eventually look to the public markets for capital as business grows. "At some point it gets harder and harder to raise debt when you are a private company," he said.
Published by Globes [online], Israel business news - www.globes-online.com - on July 14, 2010
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