Richard Liu Qiangdong Outlines How JD.com Was Created
January 30, 2019
Richard Liu is a highly successful business man in China. Liu Qiangdong as he is otherwise known, is the founder, chairman and CEO of the biggest company retailer in the country known as JD.com. This company has climbed to top on the list of Chinese companies with the highest market value. In a recent interview at the World Economic Forum Annual Meeting, Mr. Liu revealed that the company is currently worth over $60 billion, making it the number four largest company in China. His focus is to take this company to the number one position, a dream he has harbored since the day he opened the offices of JD.com.
Richard Liu was born in China and attended college in China. However, from a young age, he developed interests in setting up a business. His parents owned a small transport company although it was not performing very well. He was inspired to do something that would uplift the status of his family and saw a business organization as one of the routes through which he would excel quickly. Liu created his first business while he was college. It was restaurant that unfortunately failed due to lack of sufficient management. He had to attended classes, and therefore had limited time to engage in business operations.
The idea of setting up was hatched in 2004, when Richard Liu and managers working for another business organization he had established sat down to figure out how their business would thrive. Due to an epidemic, they had closed down the stores they were running to reflect on what they needed to do. The idea of setting up an internet based business was brought up and endorsed by the Mr. Liu. Refer to This Article for additional information.
Since 2004, they closed the physical stores and started selling to the online customers. In the beginning, they could only manage a few digital good and IT products due to limited resources but as time went by, they added other products. By 2010, JD. Com had almost every products in their portfolio. Richard Liu Qiangdong relates the success of this company to the commitment he had of correcting the mistakes of other businesses doing internet sales at the time.
See also: https://www.crunchbase.com/person/richard-liu-e9b4