Shen Peng, the founder of Waterdrop Company, visited the School of Economics and Management of HKU university to talk about innovation and entrepreneurship

On September 23, Shen Peng, the founder of Waterdrop, was invited by the HKU Business School of the University of Hong Kong to give a keynote speech and exchange on "Practice and Review of Entrepreneurship for More Than 10 Years" at the CPD3.04 Lecture Hall on the Centenary Campus of the University of Hong Kong, introducing his experience and experience in the entrepreneurial process of the past 10 years to the teachers and students of the Faculty of Economics and Management of HKU.

Shen Peng said that his entrepreneurial experience actually began in January 2010 when he joined the US group, and has now exceeded 10 years. In 2010, Shen Peng, born in 1987, joined Meituan and became a founding team member of Meituan, and quickly grew into the backbone of the business. In 2013, Shen Peng and Wang Huiwen started a business within Meituan, created Meituan Takeaway, led the team to be the first in the industry, and became the most important business segment of Meituan.

In May 2016, Shen Peng founded Waterdrop Company and began the process of independent entrepreneurship. With the mission of "using Internet technology to help the broad masses of people have insurance and medical treatment, and protect hundreds of millions of families", Waterdrop has successively launched water drop chips, water drop protection, water drop health, water drop good medicine payment and other businesses, serving hundreds of millions of users.

Shen Peng introduced that after 5 years of development, Waterdrop Chip is currently the largest fundraising platform for serious diseases in China, with a total of 360 million caring people helping patients with serious diseases with economic difficulties through the WaterDrop Chip platform, and raising more than 40 billion yuan of medical funds for nearly 1.9 million patients with serious diseases. It is worth mentioning that the water drop chip has always adhered to 0 service fees so far.

Waterdrop Insurance is an insurance technology platform launched in 2017, and has reached cooperation with more than 60 insurance companies so far, providing users with more than 270 cost-effective insurance products, and more than 100 million users have been insured on the Waterdrop Insurance platform.

"In the business structure of Waterdrop Company, Waterdrop Chip and Waterdrop Insurance are insurance protection plates, and we also have health service sectors, mainly waterdrop health and water drops good medicine payment", Shen Peng introduced, Waterdrop Health is a platform for providing users with health management, and Waterdrop Good Medicine is a platform for patients to provide medical innovation payment.

In addition, The company also has a social responsibility section, and its water drop public welfare can help domestic charity organizations to raise donations and raise funds on the Internet.

In May this year, Waterdrop was listed on the New York Stock Exchange in the United States, and the company's IPO stock was priced at $12 per share, corresponding to a market value of about $5 billion. Of course, because of the recent environment of Chinese stocks, the stock price of Waterdrop Company has also fluctuated greatly. Shen Peng said that after the listing, the company has received more development funds, and everyone will seriously focus on the company's vision and goals to make the company better. "In the long run, we must be responsible to shareholders, make better achievements, continue to achieve goals, and bring more returns to shareholders and employees."

When sharing entrepreneurial experience, Shen Peng summarized himself as a manager, admiring Jack Welch's management methodology, and as an Internet entrepreneur, he admired the PM12 principle of product managers. He also suggested that HKU aspiring students should carefully study and practice books such as "Seven Habits of Highly Effective People" and "Lean Entrepreneurship". At the end of the event, Shen Peng also mentioned that Waterdrop Company may carry out international business in the future, and looked forward to the students of HKU to pay attention to the job opportunities of Waterdrop Company.

This article originated from Blue Whale Finance