Richard Liu Qiangdong is a Chinese renowned entrepreneur and CEO of JD.com. JD.com is one of China’s largest e-commerce platforms. The father of two spoke at an interview and revealed many things concerning his personal life and business life. While he is busy working at his company, he finds time to spend with family of two children and wife. His last born is too young to realize how successful and famous his father is.
Richard Liu went through a lot of trouble starting and growing a company that is now very popular in China. The e-commerce platform is a preferred shopping destination for many people in China. This is contributed to the fact that 15% of China consumer consumption takes place online. It is way more than the percentage of consumer consumption that takes place online in the United States.
It all started in 1998. Richard Liu was struggling with financial challenges. He put his entrepreneurial mind into work and started a tech shop. The tech shop sold computer accessories. The business picked up quickly and conceived 11 more shops. The success story of Richard Lie Qiangdong which led a rising trajectory fell down abruptly after the sars outbreak in China. He had nothing to do but close down the business for fear of contracting the disease.
He eventually ventured into e-commerce after a while of soul searching and thinking. The business did well with fast-moving consumer goods being the top-selling products. Before going there, the platform only sold few products including electronics and IT equipment. Richard Liu added products with time to fill the platform with authenticated products. The platform had no room for unauthenticated products because Richard Liu was striving to streamline the online market which was otherwise “chaotic”.
JD.com has come a long way to have over 1 billion products and its presence felt around the world. They are not resting until the company becomes the number online shopping platform in the world. According to Richard Liu Qiangdong, it will take 10 years only for JD.com to attain that. So far, it has expanded to some parts of Southern Asia and it looks to make a move into the United States market.
Richard Liu Qiangdong’s : Twitter