Richard Liu Qiangdong And The Growth Of JD.com

 

Richard Liu Qiangdong is the creator and CEO of JD.com and member of the “BoF 500”: Business of Fashion top 500 most influential people in the $2.4 Trillion industry. He has an estimated net worth around $11 billion, his is worth around $56 billion, and he is currently helping shape the online landscape for shopping in China alongside Walmart, who owns a 12% stake JD’s stock on the NASDAQ               .

 

Liu has invested nearly $400 million into Fartech, the online luxury clothing platform that sells to over 7,000 outlets. And it all started when Richard Liu attended Renmin University in China to get his degree in sociology. Though he was studying sociology, he spent his free time coding and computer programming. He later got is MBA from the China Europe International Business School and got his first big job at Japan Life where was manager for programs and computers.

 

After this, Richard Liu Qiangdong began selling magneto-optical parts under the name “jingdong”: the last letter of his and his girlfriend’s name. The name stuck, and soon when the SARS virus hit he began selling online under the URL “JD.com” for short, so that he didn’t contract SARS in person yet could still sell to people. By 2005, he closed all of his 12 branch locations and started selling full-time online because it was going so well. Richard Liu started selling nice consumer products in addition to the magneto-optical parts, and word of mouth started to spread about this website with the short URL. Go Here for more information.

 

Nearly ten years later, the owner of China’s billion-user-per-month social media platform WeChat (TenCent) bought a 15% stake in Jingdong for a cool $215 million, thus valuing JD at over one billion dollars. Just a couple of months later Liu Qiangdong took JD public on the NASDAQ, an in IPO that had one of the largest market caps in recent times. All of this happened around the same time as Alibaba, and so the two are currently vying for the trust and business of online consumers worldwide (but especially in China).

 

In an article on AACSB.edu, Liu was listed as one of the “Most Influential Leaders”. As a testament to Liu’s admirable business practices, he has received numerous national and international awards for his entrepreneurship, business influence, innovation, and leadership.

 

Learn More: https://jdcorporateblog.com/about-liu-qiangdong/