Richard Liu Qiangdong, a popular Chinese businessman who also goes by Liu Qiangdong, operates JD.com. The reputable retailer currently boasts the most extensive online operating system throughout China. It is also the highest-grossing e-commerce firm by revenue. Liu is worth a staggering $11 billion, while his retailing platform is worth more than $57.6 billion.
Liu Qiangdong’s business-oriented mindset helped pave their way into NASDAQ as the first Chinese corporation. While still studying at Renmin University, Richard spent time coding and honing his acquired computer programming skills. Realizing his sociology undergraduate degree would limit his business prospects, Richard Liu acquired extra skills to establish expertise. After his undergrad, Richard pursued an EMBA at the coveted China Europe International Business School.
Liu started working with Japan Life which operates a prosperous large-scale foodstuff and health products supplier. The successful corporate figure worked with the burgeoning corporation as its director of computers and business. The experience at Japan Life gave Liu much-needed professional experience, which helped him venture into entrepreneurship. In 1998, Richard decided to open up Jingdong, his first-ever venture.
The small-scale brick-and-mortar store in the highly industrious Beijing-based Zhongguancun High-Tech Industrial Park sold quality magneto-optical goods. After the SARS pandemic broke, Chinese authorities ordered total population isolation, threatening the brick-and-mortar system venture. Jingdong had a total turning point after the entrepreneur realizes the online sector prospects. Liu Qiangdong reconsidered the traditional brick-and-mortar model choosing the better efficient e-commerce model, and realigned his operations into JD.com, his business’ online version.
Gradually, Liu shut all remaining Jingdong stores, shifting the corporation’s focus towards e-commerce. His platform initially sold multiple magneto-optical products, consumer goods, electronics, and tech gadgets. Flourishing globally, renowned businesspeople have secured significant stakes within JD.com. For instance, in 2014, WeChat proprietor Tencent spent about $215 million acquiring a fifteen percent stake.
Their deal initiated a mutual agreement that has seen WeChat promote JD.com throughout its vast social network. The added promotion was significant since the multi-purpose app, WeChat, boasts about one billion monthly users. See related link for more information about Liu Qiangdong.
Additional information can be found on www.jd.hk/richard-liu-jd-ceo-about