Richard Liu Qiangdong is a prominent Chinese businessman. He is the founder and CEO of JD.com, the largest e-commerce company in China. JD.com started in 2004 after Mr. Liu observed that there was a change in customer behavior after the SARS outbreak that left many workers house-bound. Richard Liu realized something. By running an e-commerce business, he would have better chances of succeeding even on the face of severe hardships as the one caused by the SARS plague. Before that, Richard Liu was running 12 physical stores that dealt with computer accessories. After starting JD.com, he closed down all of them to concentrate on e-commerce.
The name JD.com comes from “Jingdong,” a term created by combining his name and that of his first girlfriend. When Richard Liu Qiangdong started JD.com, he could only sell small varieties of digital products that he was selling through the physical stores. However, between 2004 and 2010, he had managed to add almost every product that was in the market to his products portfolio. Visit This Page for additional information.
Today, JD.com is worth close to $60 billion and has attracted the attention of major investors such as Google and Walmart. Walmart currently owns a 12 percent stake at JD.com. This Chinese e-commerce company has also invested in the luxury fashion business by investing $397 million in Farfetch. JD.com is currently a publicly traded company in the United States under NASDAQ. On the day that it went public, its stock value increased by 15 percent. It is also ranked among the Fortune Global 500 businesses.
Richard Liu Qiangdong was born in Jiangsu province of China into a humble family. His parents owned a small transporter business that could not meet all their needs. However, his parents instilled in him the value of hard work as well as the importance of education. Richard Liu Qiangdong attended the Renmin University of China and graduated with a degree in sociology.
However, Richard Liu Qiangdong grew interests in computers and taught himself computer programming and other computer science skills. After graduation, he secured a job with Japan life, a health product company where he was appointed the director of computers.
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