E-Commerce Giant Richard Liu Qiangdong Founder Of Multi-Billion Dollar JD.com
Richard Liu or Richard Liu Qiangdong as he’s better known by was born on February 14th, 1974 in China. He’s the founder and CEO of JD.com. Which is one of the largest Chinese e-commerce platforms in the world. In fact, Forbes estimates Richard Liu’s net worth to be $12.7 billion. Now, considering JD.com and Farfetch are both two experienced companies in China, it’s to no surprise that JD.com has also invested nearly $400 million in Farfetch. The goal of this investment was so that they could both benefit from each other.
Back to his education background, Liu graduated from Renmin University of China in 1996 with a degree in Sociology. However, he spent a long time in freelance coding work where he mastered his computer programming skills. Afterword, Richard Liu Qiangdong went to China Europe International Business School to get his EMBA. Soon after his graduation, Japan Life hired him, and he worked with them for two years, although his role was irrelevant to his skills. See This Article for more information.
On that note, Liu decided to invest into himself and in 1988 he started his own business. At that time, he had only a small shop in Beijing that sold magneto-optical products. But it was from here Jingdong came into existence. So what does Jingdong mean, you might be wondering? Well, the story is rather quite romantic indeed. You see, Jingdong is actually a combination of the last character of his then girlfriend’s name with the last character of his own name. Sadly, they parted ways but the name “Jingdong” remains strong. In fact, by 2003 Mr. Richard Liu Qiangdong was able to expand his business to 12 locations.
Soon after, Mr. Liu decided to reconsider his business model and proceeded by establishing JD.com 2004. Which was his first ever online retail store. After this successful launch of JD.com, he then decided to close all 12 brick-and-mortar locations. At this point, Liu turned his focus strictly on e-commerce. This decision enabled him to sell huge quantities of electronics and quality consumer goods across the whole globe.
Also, JD.com struck a deal with WeChat to promote JD.com on WeChat social network for 15% stake in JD.com. As a result, JD.com had everybody buzzing with excitement down on Wall Street! In brief, JD.com is considered one of the largest Chinese e-commerce giants to compete with Alibaba. In fact, the two giants are fierce rivals in the e-commerce market. With that said, it’s to no surprise that Richard Liu is one of the most successful people in his field.
After all, he mastered his skills and worked hard to establish one of the most successful companies in the world. On that note, Richard Liu is a legend in the e-commerce market and he’s still one of the most respected players in the game!