Richard Liu Qiangdong is the founder of JD.com which was previously known as Jingdong Ltd. He is the CEO of the company since its inception in 2004. Richard Liu earned his degree in Sociology from the Peoples University of China, and it is while in school where he was able to hone his computer programming skills. Richard was entrepreneurial, from the onset having a humble background. After graduation, he used the skills that he learned in computers to set up a venture.
In 1998, Richard Liu started the distribution of magneto-optical products which saw the company grow and open 12 more stores across Beijing. The SARS epidemic was the turning point in 2005, where the contact between people was limited. The revenue generated through the business was significant that it led to the launch of an online version of the company. In 2007, he realized that there was a gap within the e-commerce and logistics sector, whereby people who lived in the rural areas had to travel to the nearest town to purchase the different appliances they needed.
This made Richard Liu build a national logistics system which ensured delivery of different types of products devoid of damages during the delivery process. As the years progressed, JD.com took the initiative of varying sourcing types of goods directly from the supplier and reselling it to the buyers and retailers. This, in turn, allowed JD.com to verify the authenticity of the products being sold, thus increasing consumer trust. Over the years, JD.com has grown and become one of the largest online direct sales company within the country. It is also recognized as the third largest internet company globally.
The tremendous growth of the company has also made Richard Liu Qiangdong receive several awards such as the “2011 China Economic Person of the Year” awarded by CCTV which is the most extensive national television network within China. Richard Liu is also top of the list of Fortune’s world’s greatest leaders. He is also regarded for delivering insights on the future of the innovation trends within the retail sector on different international stages.
Liu Qiangdong’s: Twitter.