A man walks past a billboard with signs of Tencent Holdings-backed Waterdrop in Beijing, ahead of the Chinese online insurance technology firm’s initial public offering at the New York Stock Exchange on May 7, 2021. Photo: Reuters
A man walks past a billboard with signs of Tencent Holdings-backed Waterdrop in Beijing, ahead of the Chinese online insurance technology firm’s initial public offering at the New York Stock Exchange on May 7, 2021. Photo: Reuters
Insurance

Tencent-backed online insurer Waterdrop seeks to widen health policy coverage for China’s poor, founder says

  • Waterdrop founder Shen Peng said the company aims to serve as the ‘Pinduoduo’ of the country’s health insurance market
  • The company raised US$360 million from its IPO in New York amid questions about its business model and profitability

A man walks past a billboard with signs of Tencent Holdings-backed Waterdrop in Beijing, ahead of the Chinese online insurance technology firm’s initial public offering at the New York Stock Exchange on May 7, 2021. Photo: Reuters
A man walks past a billboard with signs of Tencent Holdings-backed Waterdrop in Beijing, ahead of the Chinese online insurance technology firm’s initial public offering at the New York Stock Exchange on May 7, 2021. Photo: Reuters
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