There’s still a lot of information that can be learned about Richard Liu Qiangdong. This is one of the reasons why he decided to give an interview to Weforum.org about his own past and the growth of JD.com. In 1996, Richard Liu Qiangdong graduated from Renmin University of China. His time there had not been completely successful. Richard Liu had attempted to start a restaurant, but it soon failed because as a student he did not have enough time to devote to it. This was a massive failure for his family and himself. He lost money and went into debt.
Eventually, Richard Liu Qiangdong needed to find a way to make ends meet. He had accepted sole responsibility for the survival of his family and his grandmother needed medication. This is when he decided to start a technology company in 1998 entitled Jingdong Mall. When David Rubenstein asked him about where he got that name from Richard Liu painstakingly volunteers that it was a culmination of his then girlfriend’s name and his own. This may be why the company is now simply known as JD.com after they switch to the world of online retail.
JD.com needed to come into existence in 2005 because SARS had become a major concern for the Chinese population. There were many people contracting the disease and it created a lot of fear about going out and doing simple activities like shopping. If Richard Liu did not do something to preserve his business, then it would have gone under that year. His quick thinking in the situation is why JD.com came into existence. He knew that the online retail market was heating up but he did not know that it had a dire need for companies that produced honest products. While JD.com is not a direct manufacturer of anything, they do put a lot of work into the authentication of the products that they offer. Richard Liu Qiangdong tells Weforum.org that he believes this is one of the reasons why JD.com did so well in those early days. They instilled a sense of confidence in their customers that was not apparent in the landscape at the time.
His LinkedIn Profile: https://cn.linkedin.com/in/qiangdong-liu-53423bb0