Richard Liu is the CEO JD.com, one of the Chinese Companies with the largest e-commerce platforms, with $57.6 billion worth of revenue. According to Forbes Magazine, he generates a net-worth of $7.3 billion. Richard Liu attended the renowned Renmin University of China where he graduated from with a degree in Sociology in 1996. After University he spent much of his time sharpening his programming skills by undertaking freelance coding work. Richard Liu Qiangdong, then later pursued an EMBA at the China Europe International Business School. After graduation, he was employed to work at Japan Life Company, where he undertook various roles such as director for business and computers.
What made him start his own Company? And did it work out?
Liu’s family was poor, and his grandmother was sick, so he didn’t have any money to take her to the hospital. Therefore Liu created his own Jingdong-shop to sell computer accessories in Beijing to get cash for his grandmother’s medication. By 2003 he had expanded his shop to 12 stores, but the SARS outbreak threatened the future of Jingdong. In 2005, he destroyed his stores to focus on e-commerce where they could sell products online.
What unique thing makes his Company overgrow?
Richard Liu Qiangdong deals in real computer accessories, unlike other online dealers who sell fake ones. The industry then was full of counterfeit products, and he decided to create new rules by dealing with real products such as IT products, mobile phones, etc. The number of employees he has Richard Liu has roughly 167,000 employees in his Company.
How long will you have the largest market value in the market?
Richard Liu Qiangdong believes that they have the logistics, technology, to the top e-commerce platform in a few years.
Do you ship goods only in China?
Richard Liu says that once you buy goods on their website, they can ship them to you. Right now they ship products to different parts of the world, including Asia, Europe, and the US.
Follow him on Twitter : https://twitter.com/richardlui