Richard Liu Qiangdong – How He Took on eCommerce and Succeeded

Chinese Internet entrepreneur, Richard Liu Qiangdong, is the founder of Jingdong Mall or JD.com. It is one of the largest e-commerce platforms in China, currently worth $57.6b. On January 2018, Richard Liu Qiangdong was reported to have a net worth of $12.7b with Jingdong Mall surging in its stock price.

The successful entrepreneur had a hidden interest in politics. He enrolled in the People’s University of China to pursue a bachelor’s degree in sociology. Richard Liu spent his spare time studying computer programming as he knew that a degree does not guarantee him a good job. In 1996, Richard Liu graduated and he later joined China Europe International Business School to earn an EMBA.

As a college student, Richard Liu invested into a restaurant using his income earned from family loans and programming work. Unluckily, the business failed in a couple of months leaving him in debt.

He graduated and Japan Life employed him. Japan Life is a Japanese health product enterprise. Richard Liu Qiangdong served as the logistic supervisor, director for computers, and the director for business in that enterprise. In June 1998, Richard Liu decided to found his own business as a distributor of magneto-optical product. He named his company after Liu Qiangdong (himself) & Gong Xiaojing his girlfriend by then, Jingdong. JD.com is located in Beijing in Zhongguancun High-tech Industrial Park. The company expanded and by 2003, Richard Liu had founded 12 stores.

After the SARA outbreak, Richard Liu diverted to online business. In 2004, he launched his first online retail website and founded Jingdong or JD.com. Richard Liu became an e-commerce business in 2005 after closing off all brick-and-mortar stores. Since then, he started to sell quality consumer goods alongside electronics.

Wechat owner Tent acquired a 15% stake in Jingdong Mall for $215 million in March 2014. They also agreed that Wechat was to promote Richard Liu’s business on its social network, it boosts about 1b monthly active users. After two months, the company went public in the United States. Currently, JD.com is still undergoing a rapid growth making it to be among the Chinese e-commerce giants.

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