Category: Blockchain Technology

 

Richard Liu or Liu Qiangdong is a Chinese billionaire and founder of the e-commerce company JD.com. He recently became China’s wealthiest person after his company’s IPO on NASDAQ, which saw their stock rise by 33% in a single day. His wealth has grown by over 170% since 2010, and he’s still the youngest self-made billionaire in the world!

During the economic crisis at the beginning of this century, Richard Liu took a small loan from a local bank [Shanghai Commercial Bank]. He used it to turn his company into an online e-commerce giant in China. He has already invested $350 million into his startup and has plans to raise another $2 billion through an IPO, as well as investing in other tech startups and philanthropic activities.

 

 

Richard Liu Early Life and Education

He studied sociology at the Renmin University of China in Beijing, majoring in business and management at the University of Nebraska – Lincoln, and is a graduate of the Wharton School at the University of Pennsylvania. He currently resides in Shanghai with his wife and daughter.

 

Richard Liu’s Career and Accomplishments

He founded JD.com in July 2005, along with three others after he graduated from college. In 2006, he set up a side business called Liu An Technology which was dedicated to mobile phone software development, before becoming the CEO of JD.com in June 2007.

In July 2010, he gave up the CEO position to Jingdong Mi, the head of JD’s online marketplace platform, and became the company’s chairman and put all his efforts into the online retail business. JD.com has become one of China’s biggest e-commerce companies, and Richard is now one of China’s most recognizable figures.

Richard is one of China’s most exciting and innovative business masterminds. At only 35, he has already achieved so much in his career and continues to explore his entrepreneurial potential by investing in startups such as the Chinese rideshare company.

See related link for more information.

 

Learn more about Liu Qiangdong on https://ir.jd.com/liu-qiangdong-jd-ceo-about

 

 

Richard Liu founded JD.com with the mission to create an online retail site. He took a different approach to what other companies were doing at the time, creating a site that focused almost solely on selling goods. His success leads him to expand his businesses into multiple industries, including consumer electronics, cosmetics, and health care products.

He rented his first store space in China’s technological development center and concentrated on selling magneto-optical goods. Liu Qiangdong was successful in the traditional brick-and-mortar business model after opening multiple outlets of his company, Jingdong, around the area. However, during China’s SARS pandemic, he witnessed a rise in the number of individuals looking to purchase from home and saw the potential advantages of bringing his business online. Liu quickly shut down his physical sites and started selling his goods online because he trusted his business instincts.

Liu used his previously honed skills to develop his platforms further and develop the cutting-edge technology that set him apart rivals. Richard recognized the value of upholding a good customer service experience and using technology to give positive user experience from ordering to delivery.

After perfecting his proprietary software, Liu soon saw the advantages of expanding his offers beyond his initial products, so he started an expansion with 360Buy Jingdong, which eventually became JD.com. Moving the business online immediately paid off, enabling Liu to compete aggressively in the rapidly expanding e-commerce market and enabling the business to advance its technological capabilities continuously. Thus, Richard Liu’s JD.com was already humming with over 300 million active consumers while rivals were only beginning to launch online sales.

JD.com offers an extensive selection of products at unbeatable prices. Their website features all the major categories, including electronics, clothing, toys, books, and music. Their app allows users to browse various departments, buy items and even manage delivery. The company is also committed to offering its customers a seamless shopping experience every time they shop. See this article to learn more.

 

More about Liu Qiangdong on https://en.everybodywiki.com/Richard_Liu