Waterdrop(水滴)

Fast facts

Year Founded
2018
HQ Location
Beijing, China
Publicly Traded?
Yes
Overseas Operations
No
US Sanctions
No
Military Affiliation in China
No

Revenue

USD 72.5 M
*2020 revenue was reported in RMB and was converted to dollars using the exchange rate from November 5, 2021.

Valuation

USD 499.5 M
*Valuation is reported as market capitalization. It was last updated on June 26, 2022 13:49:17.

Employees

4,291

Waterdrop is an online insurance and medical crowdfunding platform backed by Tencent. Headquartered in Beijing, the company runs an online platform that connects insurance companies with customers. It also hosts a crowdfunding platform aimed at helping patients with severe illnesses raise money to pay for their medical bills. Founded in 2016 by 33-year-old Shen Peng, a former executive at Meituan, Waterdrop filed for an initial public offering (IPO) of up to US$360 million on the New York Stock Exchange in May 2021. Tencent owns 22.1% of the firm and will be diluted during the listing.

In 2019, China had an estimated $723 billion in unmet medical protection demand. Experts estimate that third-party insurance brokers will likely account for 13% of the market by 2024, up from just 3% in 2020.

Beijing Zongqing Xiangqian Technology Co., Ltd. is 99% owned by Shen Peng, founder and CEO of Waterdrop, and 1% owned by Ran Wei, Partner and Head of Strategy and Business Analysis.

Waterdrop Sanctions

While at this time it appears that this company is not the subject of any U.S. or other global sanctions, it is important to note that Chinese companies tend to have more opaque organizational structures than their Western peers. Chinese companies' affiliated brands, operating units, and overseas subsidiaries are not always obvious or even identifiable. Given this, a Chinese company may not be the subject of sanctions, but one of its subsidiaries may be, thus making it difficult to accurately ascertain a company's full sanctions status.

Waterdrop Reputational Disclosures

Fraud is common on the Waterdrop.