Richard Liu Qiangdong started JD.com in 2004 but before that, he prepared the ground extensively for the opportunities that came later. Currently, the Founder and CEO of one of the largest e-commerce platforms in China is estimated to be worth $12 billion making him one of the richest individuals in China. He leveraged intuition, intrinsic beliefs and business savvy to build the business empire which serves more than 300 million active shoppers in China and beyond.
Let’s look at his background to get a clear view of the path he navigated to get here. He was born in Suqian town in China and he was raised by hardworking coal-shipping parents. He excelled through his primary and secondary education to earn a slot at The Peoples’ University of China to study Sociology. At the university, Richard Liu Qiangdong also expanded his horizons to make him a better candidate for employment opportunities in the future. He taught himself skills related to computer science.
His self-acquired skills helped Liu Qiangdong to earn a spot at Japan Life. He executed his duties extremely well to an extent he earned the position of Director of Computers and Service at the company. In 1998, the successful businessman left formal employment to start his own business. He started a business in a retail space at China’s tech hub in Beijing. The retail business sold magneto-optical products. It dealt with authorized products to outshine other players who dealt with counterfeit goods. Five years later, the business had blossomed to expand into twelve brick-and-mortar retail spaces.
In 2003, the business was affected by the SARS outbreak in China. Richard Liu Qiangdong leveraged his tech savvy to transition into e-commerce. He closed down all his physical retail spaces and renamed the online business into Jingdong. He later launched JD.com, a platform which grew tremendously to offer high-end luxury items and to be worth more than $57 billion. It developed business relationships which further fueled its growth. It has increased its presence massively in China. It is the success of the platform that attracted world’s largest investors including Walmart. While the company has gotten into many partnerships and welcomed on board some investors, Richard Liu Qiangdong remains at the helm of the company overseeing the daily operations, technology building, business forecasting and every other aspect of the company.
Learn More: www.jdwl.com/richard-liu-jd-ceo-about