What determines a successful company? Is it just about how much money the company makes or is it something more? If it’s just about money, then JD.com is very successful; currently valued at more than $57 billion. If it’s about something more, then JD.com is still very successful; having survived one of China’s darkest hours.
The history of JD.com’s ups and downs starts with the company’s founder and current CEO, Richard Liu Qiangdong. Richard Liu comes from an extremely humble background; his family was impoverished. His parents owned their own business but didn’t make much shipping coal from north to south.
When Richard Liu went to college, he earned attendance at Renmin University and graduated with a Sociology degree. Initially, he planned to pursue a career in politics, but his grandmother’s illness derailed that pursuit. Instead, he learned computer programming and worked as a freelance code writer to make enough money to pay for her treatment.
Working as a freelancer gave him a taste for being his own boss. He focused more on pursuing entrepreneurial ventures even after his grandmother received her treatment. Liu’s newfound passion led him to business school where he earned an EMBA.
While attending the China Europe International Business School, he bought a restaurant as a first attempt at owning his own business. The restaurant failed miserably, as he only devoted two hours a week to operations. After that, he took a job at Japan Life, where he worked for two years. Go Here for more information.
In 1998, he opened another business, which he named Jingdong. Jingdong was more successful than the restaurant, and by 2003, he had 12 stores through the Beijing region. Unfortunately, 2003 also brought the SARS outbreak that shut down many of China’s retailers.
Not one for giving up, Richard Liu moved Jingdong online and renamed it JD.com. He added more products and created a delivery system that allowed customers to receive their purchased items in 24 hours or less; many received their packages within six hours.
Due to his hard work throughout the years, Mr. Qiangdong has managed to accrue a few important accolades over the years. One of these incredibly amazing awards was the “2017 Variety500 Honoree” in the variety honors. JD.com is currently well over $44 billion in worth which is looking to continue growing upwards with time.