Daily BriefsTMT/Internet

TMT: WeDoctor Holdings, Coinbase and more

In today’s briefing:

  • We Doctor Pre-IPO (微医) – Remedying Pain Points
  • Coinbase IPO – Why You Can Justify a $100bn Valuation… If You Want

We Doctor Pre-IPO (微医) – Remedying Pain Points

By Zhen Zhou, Toh

WeDoctor Holdings (1737089D HK)  is looking to raise US$2bn in its upcoming Hong Kong IPO. 

Prior to the filing, we had looked at the background of the company, did an app walkthrough, and brief comparison with other online medical providers like JD Health and Ping An Good Doctor

In this note, we will take a closer look at the company’s business models, financials, operating data and share our initial thoughts on the company.


Coinbase IPO – Why You Can Justify a $100bn Valuation… If You Want

By Mio Kato

Coinbase’s business model and profitability are very heavily affected by cryptocurrency trading volumes which are in turn very heavily affected by the absolute price of cryptocurrencies and the trend in price, particularly for bitcoin. Due to the volatility of these prices, it makes estimating sustainable profitability difficult. However, we believe it is possible to gauge what plausible ranges are.


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