Kathleen Lingo

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Richard Liu The E-Commerce Connoisseur

Ask about Richard Liu Qiangdong and many will attach his name to China’s top e-Commerce; JD.com. But it was not always that way. Liu Qiangdong was born and raised in Chang’an, a small village outside the city of Suqian in the Jiangsu province of China. Liu’s parents were wealthy merchants who used to transport goods along the Yangtze River in the early 1900s.

Unfortunately, he was never destined to be a part of that wealth as his family had lost everything before he was born. As such they ended up earning a living as humble rice farmers. Richard is no stranger to hard work was not going to allow his poor background to hinder or hamper his dreams.

He is the founder and CEO of Jingdong and 360 buy LTD, now known as jd.com. Before jd.com however, Richard Liu (aka Liu Qiangdong) started selling computer parts in his own retail business in Beijing in 1998. When the company was hit by the SARs epidemic in 2004, he had to change tact and reinvent.

This gave way to the natural birth of the E-Commerce market for him. Liu Qiangdong decided at that point to take his business from physical stores to online stores. The switch created a revolution in the industry. At first, he ran both physical and online stores but the numbers soon held all the answers. His online ventures were way more profitable. That saw him finally decide to operate the business fully as an online retailer. See this article for more information.

In 2016 JD.com had net revenues of $37 billion. The company floated on NASDAQ in 2014 and has a market capitalization of some $44 billion. Richard Liu has turned e-commerce on its head. He was also responsible for writing his own code for his entire site. Liu Qiangdong is an enigma. Knowing that his board cannot form a quorum without him being present is a testimony in itself of how he runs his affairs, with much attention to detail.

In 2017, Richard Liu Qiangdong became an official “Variety 500 Honoree” due to his hard work and service to the world.

 

For more information about Richard Liu on https://www.jdpay.com/richard-liu-jd-ceo-about

 

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