Richard Liu Qiangdong’s company, J.D.com, tops the list of the largest e-commerce platforms in China. He is the founder and chief executive officer of the company whose current net worth is $55.76 billion. Richard Liu started J.D.com in 2005 with the aim of focusing the sales of consumer goods and electronics through the available online platforms.
Richard Liu Qiangdong’s Initial Business Expeditions
Richard Liu has tried his hands on a variety of businesses. He first opened a restaurant business that didn’t do well. Again in 1998, Richard Liu opened a shop in Beijing. He used to sell magneto-optical products. He named the shop, “Jingdong,” a name coined from his then girlfriend’s name and his name. In only five years, he had expanded his business to 12 stores spread across the country. But there was a SARS outbreak in 2003, which forced Richard Liu to shut down all of the 12 stores and focus on e-commerce.
The Success of J.D.com
Richard Liu Qiangdong’s company, J.D.com, has had massive success since its inception in 2005. With over a decade into the e-commerce business, the company had made enormous revenues. For instance, in 2016 the company’s net income was at $37 billion. This can be credited to the focused ideas of Mr. Richard Liu Qiangdong on making the best out of his company.
The company has also merged with big international wigs to ensure that it penetrates to other parts of the world. In March 2014, J.D.com sold 15% of its stake to WeChat owner, Mr. Tencent. In exchange, as a part of the deal, the WeChat group was tasked with the responsibility of promoting J.D.com on its social network platform. Two months later, the company made its debut entry to the U.S market with one of the biggest NASDAQ floats witnessed that year.
Richard Liu Qiangdong is an aggressive person whose success can be attributed to his consistency in ensuring that positive results are delivered. He is an internet celebrity in China who has been invited to various forum’s to enlighten the youth on how they can create wealth and be productive to the society.
Visit his LinkedIn : https://www.linkedin.com/in/richard-liu-54849942/