Richard Liu Qiangdong

Richard Liu Qiangdong is a Chinese citizen born in 1973 in Suqian, Jiangsu province. In his early life, Richard Liu got interested in politics but later decided to join the field of business after graduating from the People’s University of China where he pursued Bachelor in Sociology. Richard Liu spent most of his time learning about computer programming, which enabled him to excel much in the e-commerce industry.

Richard Liu Qiangdong started his career in a health company where he got hired to sell health products. The individual worked for the company for two years and later opened his shop. In the company, Richard Liu Qiangdong held different positions, such as the director of computers and also the director of business. Richard Liu’s shop, which opened in 1998, sells Magneto-optical products in Beijing. At first, the shop’s name was Jingdong, which came from Richard Liu and his Girlfriend’s names. As of 2003, the company expanded with more than 12 stores, which were an excellent performance for Richard Liu’s business. Following the SARS outbreak that forced both customers and staff members to stay house-bond, Richard Liu felt the future of his company threatened. Therefore, he decided to consider the brick and mortar business model.

In 2004, Richard Liu Qiangdong started JD.com. At the beginning of 2005, Richard Liu shuttered all of his stores and focused on e-commerce where he was selling a verity of products including consumer goods and electronics. Today, JD.com is one of the biggest selling e-commerce platforms in China. Currently, the company is worth $57.6 billion. Walmart, one of the shareholders in JD.com, recently increased its stake to 12 percent following the perfect performance of the company. In June 2017, an announcement released that JD.com had made an investment of $397 million in Farfetch, which was a mutually beneficial partnership that capitalized the two companies. Today, the company is working with many partners helping them to attain their goals and serve people locally and internationally in different ways.

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