Richard Liu Qiangdong is a prominent businessman who founded JD.com a leading e-commerce platform in India that is worth $57.6 billion. Liu is the Chief Executive Officer of the company with a reported net worth of $11 billion according to Forbes. He holds a bachelor’s degree in Sociology conferred to him in 1996 from Renmin University. During his time on campus, he spent a lot of time learning how to code and doing freelance coding assignments. Later on, Richard Liu joined the China Europe International Business School where he obtained his EMBA and later started working at Japan Life for two years as the business director and as the computer director.
In 1998, Richard Liu Qiangdong launched Jingdong, also known as JD.com, a small shop in Beijing retailing magneto-optical products. The business did well, and by 2003 he had 12 stores in operation. However, his future career in business was threatened by the SARS outbreak that forced his workers to stay at home. The outbreak was a threat to his career, and he changed his mind in 2004 and focused on e-commerce, that is when he started JD.com. See This Page for related information.
In an interview with the world economic times, Richard Liu Qiangdong stated that his website delivers goods that have been ordered within six hours and that they treat all their customers equally. Mr. Richard Liu intends to expand the business to different parts of the world and states that each country requires its strategy of getting into the market. The company aims at bringing the world the best products from China. Richard Liu notes that he doesn’t consider Walmart a competitor because JD has a variety of products to choose from and their delivery is effective.
Richard Liu Qiangdong’s dream is to establish the biggest e-commerce company globally and not just in China. He states that his wealth is mainly on paper and for the cash income they receive, half of it is donated to charity. He believes that Chinese companies have a rough time making it in China, unlike the way the Americans can establish their business in China. He intends to leave a good legacy in China when he retires.
The JD.com Story: An E-commerce Phenomenon by Li Zhigang features the unique story of JD.com’s growth and evolution and the strategies and philosophy of its charismatic founder are featured in this fascinating book.