Richard Liu Qiangdong is a prominent Chinese businessman and entrepreneur known for founding JD.com, one of the largest Chinese e-commerce platform. His success story dates back to around 1998 when he was a mere college student struggling to make ends meet while studying.
Mr. Richard Liu Qiangdong comes from a humble background and his family faced financial challenges. He would have wanted to advance his studies abroad like his friends but he couldn’t because of financial challenges. Additionally, in the late 1990s, his grandmother was ailing and his family was not in a position to get her the medical care she needed. View More Information Here.
Richard Liu embarked on an entrepreneurial path while still on college by starting a catering business. The business failed miserably, a thing he attributes to his busy schedule at college. He later started a computer accessory shop. The business picked up and before long, it had expanded to have 12 shops. The SARS outbreak in China made the business to close down. While contemplating on the next move with his workers, an idea of selling items online came along.
They started selling online and in 2004, he inaugurated JD.com. He realized that e-commerce was the future of retail business. Back in the day, e-commerce was not mature and platforms existed didn’t offer authenticate goods as well as invoices. Richard Liu Qiangdong polished on that and earned a competitive edge. The business started off selling a few products such as mobile phones, digital electronics as well as IT equipment. Richard Liu added products into the platform year-in, year-out and by 2010, the platform had over 1 billion goods.
Richard Liu built the company from scratch to become one of the most prominent companies in the world with a worth of about $60 billion. The entrepreneur is worth about $11 billion. However, he has plans to take the business to the next level. Following a series of steps, Richard Liu plans to take JD to the globe. It has already established a presence in almost every corner of China. Now, he is working to increase the business’s presence in Middle East, Southern Asia and the United States. He anticipates that JD.com will be the best e-commerce platform in the world in the next few years.
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