How Richard Liu Qiangdong Made JD.com Prosperous

Richard Liu Qiangdong, an Internet entrepreneur in China, is the respected man behind Jingdong Mall’s success. JD. Com is a heavyweight industry in China giving its CEO and founder, Richard Liu, tremendous notability. At the beginning of this year, January 2018, Forbes gave Richard Liu a great fortune by estimating his net worth to be $12.7b. JD.com’s success did not come easily, its founder, Mr. Richard Liu, had to struggle and sacrifice to make it a booming online store.

Richard Liu has sociology degree from RUC, Renin University of China. The smart man knew that a bachelor’s degree is not an assurance to a great job and he decided to learn computer programing during his spare hours.

Entrepreneur Richard Liu had an undeniable knack for success; he rarely wasted his spare time. As a college scholar, he opened a restaurant using income he earned from family loans as well as programming work, but the business collapsed leaving him with outstanding payments. After graduating, he attended the China Europe International Business School for an EMBA.

Richard Liu was first employed by an enterprise in Japan that deals with health products, Japan Life. Here, he worked as the logistics supervisor, computers director, and business director. The respected man worked there for a span of 2 years and he opened his business, June 1998. Richard Liu named his business Jingdong: it was based in Beijing. By then, Jingdong used to distribute magneto-optical authorized products. The business made profits to an extent of opening 12 other stores.

In 2003, a respiratory disease, severe acute respiratory syndrome, outbreak kept JD.com staffs, as well as customers, home giving Richard Liu an idea of diverting the business to online. The outbreak made the business to lose approximately 8b and Mr. Liu had to rethink believing that his business will stand once again.

In 2004, the business became an e-commerce enterprise officially; Mr. Richard Liu launched it. In 2005, he rejected an offer of selling his company for 18m Yuen. By 2007, the business was selling a sheer range of goods successfully and it gradually became a giant industry in China.

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