Indonesia’s Lippo Group sells shares in OVO

Lippo Group decides to sell a portion of its shares in PT Visionet International (OVO) as it needs partners to develop the financial technology company.


Ismawati Asmat

2 Dec, 2019

Indonesia’s Lippo Group sells shares in OVO | BEAMSTART News

- From our Sponsors -

As a product of Lippo Group’s venture builder, OVO was established in 2017 and has received investments from Grab and e-commerce unicorn Tokopedia.

The reason for Lippo Group to sell some of its shares was because it was not strong enough to "burn money" with free services and discounts to "cash back" provided by OVO.

Having received an e-wallet license since 2017, OVO has been actively promoting discounts and giving "cash back" to attract users.

A survey revealed that 58 percent of respondents like to using OVO as their favorite digital payment application.

“We still hold 30 percent of the remaining shares. So they do not take off entirely,” founder and owner of Lippo Group, Mochtar Riady, said.

- From our Sponsors -

Latest Jobs

AI Engineer

Coulomb AI

Karnataka,

Full Time

USD 40000 — USD 60000 yearly

Founding Account Executive

Finic

California,

Full Time

USD 100000 — USD 450000 yearly

Product Engineer, Post Batch

Y Combinator

California,

Full Time

USD 185000 — USD 349999 yearly

Staff Software Engineer

Broccoli AI

California,

Full Time

USD 150000 — USD 300000 yearly

Partnership Sales Executive

Corgi

Utah,

Full Time

USD 70000 — USD 150000 yearly

Strategic Software Engineer (Full Stack)

Turing Labs Inc.

California,

Full Time

USD 130000 — USD 180000 yearly

Founding Engineer

Aqua

New York,

Full Time

USD 120000 — USD 180000 yearly

Founding Engineer

Pingo AI

California,

Full Time

USD 150000 — USD 250000 yearly

Machine Learning Intern (Summer 2026)

Bindwell

California,

Internship

USD 6500 — USD 10000 yearly

Founding Engineer (ML Systems) – Godela

Godela

California,

Full Time

USD 120000 — USD 180000 yearly

BEAMSTART is a hub for everything Startups, Entrepreneurship, and Innovation. Connect with a global community of people, and stay updated with the latest startup jobs, news, and discussions.

 
© 2016 - 2025 BEAMSTART. All Rights Reserved (Legal).