Richard Liu Qiangdong is a successful Chinese entrepreneur and JD.com owner. JD.com is an online shopping destination for many people in China with over 1 billion products. Richard Liu was recently in the United States and in an interview entitled “An Insight, An Idea with Richard Liu”, he spoke about his personal life, career life and his e-commerce platform.
The e-commerce entrepreneur hails from a humble background in China. While Richard Liu Qiangdong wanted to get government sponsorship and go abroad to study, his financial situation could not allow. In 1998, he also had a sick grandmother who failed to secure medical care because of lack of funds. He started a hotel business while still in college, but the business hit a dead end soon afterward. Read This Article to learn more.
Richard Liu later started a technology shop that sold computer accessories. It was successful and within a short time, he opened 11 other shops. Things seemed good until SARS epidemic hit China. His businesses closed down and he later considered to get into e-commerce. Back in 2004, e-commerce was still in its infancy stages and for him to be successful, he had to assure customers of authenticated products and proper invoices.
In 2004, JD.com launched fully with a few products on board. It started with IT equipment, digital electronics and then, mobile phones. Right then, Richard Liu realized e-commerce was the future of retail businesses. It brings on board the convenience of shopping with reduced logistic costs. Six years after conception, the platform had almost all products.
The e-commerce investor is now a billionaire with his net worth hitting $11 billion this year. Richard Liu has always been a hardworking person just like all his friends. With the wealth and fame, Richard Liu is not intrigued or moved by wealth, what matters to him is how wealth is used. If you have wealth and not use it to impact the society and family, it is not worth it. The father of two values his family so much that he regards it his greatest achievement.
JD.com plans to extend its services to South Asia, Middle East and then, to the United States. The platform is now worth over $60 billion, and it has expanded its portfolio services to logistics. Richard Liu Qiangdong looks to make the e-commerce the largest online shopping destination in the world for people from all walks of life.
See Also: https://variety.com/exec/richard-liu/