Coming from a relatively poor household, Richard Liu Qiangdong has climbed the top of the socio-economic ladder and currently sitting at the top. He studied sociology for his undergraduate degree, before taking some time out to hone his computer skills. His skill and finesse for computing increased, soon enough he was getting appointed as the head of computing at Japan Life, Japan Life is a herbal company, responsible for the healthy development of its clients, soon as Richard Liu Qiangdong was put in that position, he took the company to new heights of success, he spent about five years in that position before deciding it was time to establish his own shop. He started out selling magneto-optical products and offering quality customer services to those who needed them.
After sometime the company was highly successful, as a result, he opened about 10 other retail shops around the region. At a time where it seemed like nothing could go wrong, the SARS outbreak happened. Unfortunately it made business very bad and reduced profits of the company. Due to the outbreak, people couldn’t easily come to the shop and this had an impact on the day to day functions in the shop. When things did not improve he then decided to close up the shops and use money gotten from them to fund his new venture.
This was how JD.com was born. JD.com is now worth about 40 million dollars and Richard Liu Qiangdong worth 12.5 billion. Companies like Walmart and WeChat have invested heavily into the platform. As a result of the partnership WeChat agreed to advertise them on the platform free of charge. Richard Liu Qiangdong had his company exposed to almost a billion active users and this helped his company reach profits unforeseen at the start of JD.com. They started a drone delivery service for long range services. this reduced the cost of transportation and increased effectiveness.