Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Nearly 25 years of experience in analyzing hundreds of companies, especially in Asia. Deep expertise in the following sectors:
- Technology (E-commerce, SaaS, Internet)
- Consumer 
- Special Situations/Deep Value Plays
- Holdcos/Stubs
- Asian Unicorns/Private Companies

Korea/Asia, Events, IPOs

Waterdrop Pre-IPO - The Positives - Fast Growth, Strong Backers

Waterdrop IPO Initiation: Going for Brokers

Gravity Works As WeWork Doesn't; Now Plan B

Equity Capital Markets

<p>Founded in 2016, <a href="https://www.smartkarma.com/entities/waterdrop-inc" target="_blank" data-smartkarma-citation="entities:33018:1" rel="noopener">Waterdrop Inc (WDH US)</a> is getting ready to complete its IPO in the next several weeks. Waterdrop, an online medical insurance startup, is the largest independent third party insurance platform in China. Waterdrop was founded by Shen Peng, who was previously a Senior Product Manager at Meituan Dianping. </p><p>Waterdrop is expected to raise about <a href="https://www.insurtechinsights.com/insurtech-startup-waterdrop-set-for-us-ipo-latest-valuation-hitting-tens-of-billions-of-dollars/" target="_blank" rel="noopener">$500 million</a> in this IPO but this is subject to change depending upon the investors' demand. Waterdrop's IPO has been in discussion since July 2020. Back in late 2020, the initial valuation of Waterdrop was expected to be between $4 billion and <a href="https://www.insurtechinsights.com/insurtech-startup-waterdrop-set-for-us-ipo-latest-valuation-hitting-tens-of-billions-of-dollars/" target="_blank" rel="noopener">$6 billion. </a>At a $6 billion valuation, this would suggest a P/S multiple of 12.9x using the company's sales of $464 million in 2020. </p>

Founded in 2016, Waterdrop Inc (WDH US) is getting ready to complete its IPO in the next several weeks. Waterdrop, an online medical insurance startup, is the largest independent third party insurance platform in China. Waterdrop was founded by Shen Peng, who was previously a Senior Product Manager at Meituan Dianping. Waterdrop is expected to raise about $500 million in this IPO but this is subject to change depending upon the investors' demand. Waterdrop's IPO has been in discussion since July 2020. Back in late 2020, the initial valuation of Waterdrop was expected to be between $4 billion and $6 billion. At a $6 billion valuation, this would suggest a P/S multiple of 12.9x using the company's sales of $464 million in 2020. 

Waterdrop Inc

Waterdrop IPO Preview