Richard Liu Qiangdong: Establishing the Largest Retailer in China

Richard Qui Qiangdong is the founder and CEO of JD.com. His net worth is estimated to be at $11 billion, and under his watch, JD.com grew, and its value rose to $57.6 billion. Today, JD.com is considered as the largest retail company in China, both online and offline. Its revenue continues to climb up as Richard Liu Qiangdong enters different business deals and partnership with local and international companies.

 

Life before the establishment of JD.com

Richard Liu Qiangdong was born in a remote Chinese village. When he was in college, he enrolled at the Renmin University of China, taking up a degree in Sociology. During his spare time, he would practice coding and other computer skills necessary for securing a job. After he graduated from the Renmin University of China, he took up an EMBA at the China Europe International Business School.

He is preparing for an entrepreneurial career, and securing these degrees would give him a bigger chance to succeed. To earn more money, Richard Liu Qiangdong had to work as a director for computers and business at Japan Life. Qiangdong’s skills in business management developed strongly while he was working with the company, and by 1998, he decided to do business and left the corporate world.

 

The rise of JD.com

Richard Liu Qiangdong established “Jingdong” in 1998, which is a physical store that sells computer parts. His business grew, and he was able to set up branches across the country. However, the SARS outbreak of 2003 forced him to migrate all of his business operations online. By 2004, JD.com is operational, and it is slowly heading towards its destiny to become the largest retailer in the country.

 

Changes in the present and continuous growth

JD.com partnered with many local and international companies to promote growth. Google, Walmart, and Tencent bought stakes with the company, and they are working closely with Liu Qiangdong to provide him new ideas on how to increase the company’s sales. In 2014, JD.com debuted at NASDAQ, and it is the first China-based company to be traded in the United States.JD.com continues to invest in various startups, and the company is also funding research, especially when it comes to robotics, AI, and other advanced technological research.

 

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