Inside a startup that handles $5b in transactions

Every day, 100k+ smart people read our newsletter. You can sign up here.

Hello readers,

Remember back in December when we toasted the end of 2019 and made resolutions for a successful 2020? Well, what a turn of events! Not only has this year transformed us into introverted hermits, but it also derailed fintech startup Nium’s plan to become profitable this year.

You can read the full article here or scroll down for a summary.

Your quick bytes for today:

1️⃣ Ant Group eyes US$225 billion valuation

The fintech behemoth is looking to file for dual listing in Hong Kong and Shanghai as early as October this year. Ant Group, of which Alibaba owns 33%, could potentially raise a total of US$30 billion, marking this as the biggest trade debut worldwide.

2️⃣ WeChat users sue the Trump administration

A group of WeChat users in US have filed a lawsuti against the Trump administration for banning the Tencent-owned messaging app. Earlier this month, President Donald Trump announced that he was imposing the ban, because of national security concerns.

3️⃣ TikTok plans to sue, too

The Trump administration unveiled moves a few weeks ago to block the short-video app, unless it divests its US operations. TikTok, however, plans to challenge this by filing a lawsuit against this order.

4️⃣ Meituan did better than expected

The Tencent-backed food delivery powerhouse had a good Q2: Its revenue beat analysts’ estimates, and it netted a profit of US$318 million instead of the projected US$93 million loss.

5️⃣ India’s Tata to roll out super app

The startup that was planning for the startup dream

Predicting stroke and potentially saving lives