Richard Liu Qiangdong is a Chinese entrepreneur who is well-known on the internet for his strong personality and wealth. He founded JD.com and is its Chief Executive Officer. His company has been called the “Amazon of China” as it sells a huge variety of products online. His company started as a small business in Beijing in 1998 and now has a market cap of roughly $44 billion.
He is a graduate of Renmin University where he studied sociology. He also attended the China Europe International Business School where he earned his EMBA. After briefly working for Japan Life, Richard Liu launched his own business that sold electronics. This company was named Jingdong. When he took his company online in response to the SARS epidemic that swept China, he renamed it JD.com to reflect its shift to an e-commerce firm.
By 2005, Richard Liu Qiangdong had closed all of his company’s physical locations since the online site was doing so well. He established this company with the mission of being able to provide products to customers at any time and from anywhere. Richard Liu Qiangdong spent a lot of resources making the user experience on JD.com a high-quality experience.
He also focused on his company’s logistics network. Today, Richard Liu’s company can ship products to anybody almost anywhere in China. His company offers same day and next day delivery service. This is made possible in urban areas through the use of both human and robot delivery systems. In rural areas, his company uses its fleet of drones to deliver things.
He has offered many products on JD.com that hadn’t been available to Chinese consumers before over the years. Richard Liu Qiangdong introduced many high-end luxury goods in China, for instance. Fake products are a big issue in China. His company only sells authentic products which is one of the reasons it is able to sell luxury goods.
His company became traded on the NASDAQ in 2014, the first Chinese company to do so. Several prominent investors bought large numbers of shares in JD.com such as Google and Walmart. Richard Liu is now looking to expand into Thailand and Europe in order to further drive the reach of JD.com.
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