Ann: Market Update, page-91

1. Cheaper to list on ASX for starters
2. Entry to ASX easier than going the Nasdaq (Nasdaq requires certain earnings/cash etc)
3. VC's would have ended up owning way too much of the register if they kept raising capital with them to go to the next level
4. There was a need to become a publicly listed company - Most Fortune 500 companies will not deal with private companies that have not been operating for 5 years minimum, going public breaks down those barriers to entry in dealing with and signings contracts with these large organisations