Richard Liu founded and acted as the Chief Executive Officer of the JD.com. It is one of the largest e-commerce bases in China. The company has a net worth of $57.6 billion. According to Forbes, Liu Qiangdong has a net worth of $ 7.3billion.
In 1996, he pursued a degree in sociology at Renmin University in China. Most of his time as a student was spent advancing his computer programming skills. Liu used freelance and coding work to achieve this. He also pursued a course in EMBA at the China Europe International Business School after he graduated. Japan Life, a health product company, hired him, and he performed many roles during his two-year contract. He was in charge of computers as well as business.
Richard Liu later moved out and opened his privately owned shop. In this shop, he sold magneto-optical products in Beijing. He named the company; “Jingdong “. Within five years Richard Liu was able to expand his business to around five stores. However, the SARS outbreak became a threat to his business, and he had to reconsider his business model. Richard Liu closed up all his stores and put the focus on e-commerce. This is how JD.com was brought to life in 2004.
Richard had two inspirations behind starting up the company. Raising money for treatment of his ailing grandmother as well as to reimburse for the fact that he could not manage to further his studies were the reasons behind forming this company. He sent his workers home and suggested to sell commodities online. He realized that online business was doing better after the end of the second year. Click Here to learn more.
Richard Liu Qiangdong agreed with his team always to sell authentic goods and to ensure they create good relationships with their customers. They used this strategy to remain ahead of their competitors. It also helped them to gain the trust and loyalty of their customers.
Currently, JD.com is ranked 4th in the market value in China. The company also has the potential of getting to take up the first position. Richard Liu says that the company is dealing with food and fashion. Deliveries are easily made all over the world as Richard Liu continue researching for more advanced strategies for the company’s development.