In 2016, Shen Peng founded Waterdrop, a leading technology platform dedicated to insurance and healthcare service with a positive social impact. He pioneered the business model of "Medical fundraising + Health insurance + Healthcare Services", helping 2.4 million families to raise 48 billion RMB medical funding, and providing high-quality and inclusive insurance services to 110 million users. Waterdrop Company is successively winner of "Advanced Company in Covid 19 Response" by the All-China Federation of Industry and Commerce, and "Advanced Organization of Beijing Poverty Alleviation Cooperation" by the Beijing Municipal Committee of the Communist Party of China and the Beijing Municipal People's Government.

He’s a serial entrepreneur with extensive experience and expertise in the technology and internet sectors in China. Prior, he co-founded Meituan Waimai and served as business head of it. Listed on “2017 Forbes 30 Under 30 Asia”, “2021 Fortune 40 Under 40 China”. Winner of “40 people in 40 years for China's insurance “Special tribute Award. Winner of “Advanced individual in Covid 19 response”by the Beijing Municipal Committee of the Democratic National Construction Committee. Winner of “Advanced individual in Poverty Alleviation” by the Democratic National Construction Association. Winner of “ACES 2021 Young Entrepreneur of the Year”. Member of the "Young Entrepreneur Committee” of the All-China Federation of Industry and Commerce. Visiting professor of Business School of China University of Political Science and Law. Winner of "2021 Outstanding Contribution Award" from the School of Economics and Management of Tsinghua University.