Every entrepreneur has a story to tell, and Liu Qiangdong is no different. He started from humble beginnings and through hard work emerged to be one of the most prominent entrepreneurs of his time. He is the founder of JD.com, the largest e-commerce retail store in China.
Richard Liu Qiangdong has always had the entrepreneurial spirit. He started by opening a restaurant business. However, the company did not do well, but he continued to push on. He has also worked for Japan Life selling healthcare products. He later decided to open a business after completing his studies the business grew and was doing so well.
Even though he went to study sociology, Liu Qiangdong decided to follow his passion for computer programming. He later decided to go out on his own by opening up a shop dealing with magneto-optical products. The business expanded to 12 stores. However, things did not go well for Jingdong, when a SARs outbreak hit the country. Both customers’ staff had to remain at home due to the outbreak.
Richard Liu Qiangdong closed down all his stores and put more focus on the e-commerce store. He started by selling electronics and consumer goods. It was at this time that the idea to start JD.com came to mind in 2004.
Due to the company’s massive growth, it has attracted interest from the big players such as Wal-Mart. Walmart has a 12 percent stake in the company. See This Page for additional information.
JD.com also went into partnership with We Chat in 2014. The deal was for We Chat to promote JD.com services on its social network. The efforts paid off because JD.com went public in the US in the same year. Currently, the company has a net worth of $7.6 billion, and he invested in the Farfetch Company, the partnership will see the companies have massive reach in China. Jing-dong spent $397 million in the company.
Richard Liu’s aggressiveness has seen the company grow to be recognized as the largest online retail store. The company’s board cannot hold any meeting without Liu being present. There is no doubt that Liu has become an internet celebrity in his country.