Waterdrop
InsurtechChina
New to Unitard
📉 Public < $1B
Peak $4.7 BillionRecorded estimate
~-89%
from peak
- 🦄Became a unicorn2020
- 📈Peak valuation$4.7 Billion ’21
- 💔Became a Unitard2022
- 💸Last valuation estimate~$517M
Current status
Public (NYSE: WDH)
The rise & fall
5 moments · 2016–2022The key moments.
2016
2016
Founded by a Meituan alum
Shen Peng builds a medical-crowdfunding platform that becomes a funnel for selling health and life insurance.
Wikipedia
2020
2020
Joins the unicorn club
Tencent-backed funding values the insurance-plus-crowdfunding model above $1B.
Reuters
May 2021
May 2021
The peak: NYSE debut$4.7B
Prices its IPO at about $3.7B; listing-day market value touches ~$4.7B — the top, almost to the day.
Macrotrends
2021
2021
Regulators end 'Waterdrop Mutual Aid'
China's crackdown on internet finance forces the shutdown of the flagship mutual-aid program; the shares break issue and keep falling.
Reuters
2022
2022
Slips out of the club
Down about 89% from the debut, market value settles around $0.5B — even as the slimmed-down insurance business later returns to profit.
stockanalysis
How it happened
Waterdrop is a Chinese online insurance brokerage and medical-crowdfunding platform, backed by Tencent, that connects users with health and life insurance products. It went public on the NYSE in May 2021 at about a $3.7B valuation, but its shares crashed almost immediately as China's regulatory crackdown on internet finance and mutual-aid platforms forced it to shut its flagship 'Waterdrop Mutual Aid' program.
The stock fell about 89%, leaving its market value around $0.5B — well below $1B — even as the slimmed-down insurance business later returned to profit.
Source: Seeking Alpha / Macrotrends / stockanalysis ($3.7B IPO valuation May 2021, ~$4.73B listing-day market cap; ~$463-522M by 2026, -89%)
Founder
- Shen PengFounder, Chairman & CEONo public profile matched
