Richard Liu Qiangdong: the e-commerce entrepreneur

Richard Liu Qiangdong who is also known as Richard Liu is the owner as well as the founder of JD.com which is China’s largest online platforms and was recently valued to be worth over fifty-seven billion dollars. Richard Liu himself was indicated to be worth eleven billion that is according to Forbes magazine. Walmart was discovered to be one of the major shareholders in the company by recently increasing their shares in the company by twelve percent. Last year, the company made a move to make investments to the tune of three hundred and ninety-seven million in an organization named Farfetch. The deal aimed at creating mutual partnerships that will see both companies capitalize on the reach of the Chinese market in respect to the availability of luxury brands as well as fashion. Richard Liu Qiangdong earned his degree at the renowned Renmin University which is located in China. He graduated in sociology, but after that, he had an interest in coding and honed his programming skills doing freelance gigs. Soon after, he upgraded his degree to an MBA at the China Europe business school. Richard Liu Qiangdong was then hired by a company called Japan life where he served at various positions including director of business as well as the director in computer related matters.

In 1998, Richard Liu Qiangdong decided to go on a private venture on his own and opened a shop where he dealt with magneto-optical merchandise which was located in Beijing. Richard Liu joined the last character of his name and also of his girlfriend at the time. Under Richard Liu’s watchful management, they had expanded to twelve stores by 2003 but an epidemic of SARS in the same year made it impossible for work to continue as they were to remain confined in their households. The outbreak forced him to think about staying on the brick and mortar business and in the following year JD.com was created. In 2005, he had shut all of his stores to continue focusing on his online business where he expounded on his consumer goods portfolio to include electronics. In 2014, Tencent which is the parent company of Wechat made a deal to acquire fifteen percent of the stake in the e-commerce platform which made it catapult to what it is now.

About Richard Liu: www.forbes.com/profile/liu-qiangdong/#556204452c0d

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