Richard Liu Qiangdong’s Rise to Success

Richard Liu Qiangdong is an entrepreneur in China and the founder and CEO of China’s leading e-commerce company JD.com. His business serves over 100 million customers and is the first Chinese company to be traded on NASDAQ.

Richard Liu initially earned a Bachelor’s Degree in Sociology from The People’s University of China, but wanted to broaden his horizons in an effort to make himself more employable. So he began to teach himself computer coding and computer science. His first job was at a company called Japan Life, a natural supplement provider, where he worked his way up to Director of Computers. In 1998, he started his own business selling computer parts in Beijing. Unlike many other companies at the time, Richard Liu sold only authorized products instead of faux items. It was this practice that helped turn his investment into a chain of twelve brick-and-mortar stores named Jingdong.

The SARS outbreak in China on 2003 hit many small businesses hard, causing many to collapse. Richard Liu Qiangdong’s company was hit as well, but it was during this time that he noticed that many customers were beginning to shop online, and thus decided to change his business to focus exclusively on e-commerce. The online version of his business was named 360Buy Jingdong, named after the company’s ability to now service customers anywhere.

Eventually other companies noticed the success of his website and wanted to sell their products there as well. Richard Liu was able to form partnerships with many of these companies and as a result his company, now renamed JD.com, continued to grow as his website was able to sell high end items not available anywhere else. This eventually led to a partnership with Walmart and an investment from Google.

In 2014, Richard Lui Qiangdong’s dream was realized when his company became the first Chinese company to be traded publicly on NASDAQ. When the company’s IPO was announced the stock immediately rose by 15%.

International interest in his company has grown as his company has continued to remain prosperous. Richard Liu Qiangdong to this day oversees day to day operations.

Read More: variety.com/exec/richard-liu/