Billionaire Richard Liu Qiangdong was interviewed at the 2018 World Economic Forum Annual Meeting. The thirty-minute interview titled, An Insight, An Idea with Richard Liu, posted on the Forum’s website on January 24, 2018, gave us an insight of JD.com and the man who founded it, Mr. Richard Liu.
Richard Liu Qiangdong, Founder, CEO, and Chairman of JD.com, a global giant in the e-commerce platform. Mr. Liu Qiangdong made a name for himself when he took his physical store and started JD.com, selling his products online.
About Richard Liu Qiangdong
Mr. Richard Liu Qiangdong graduated in 1996 from the Renmin University of China with a degree in Sociology. After graduation, he accepted a director position for Japan Life where he worked for two years. Although he graduated with a Sociology degree, he grew up in a family who had a small family business and eventually followed in his family’s footstep and opened his own company called JD.com.
At the end of the interview, Mr. Liu was asked what is the thing that gives him the biggest pride. He responded by saying it was his family. To his wife and children, the best husband and father, to his parents and sisters, he wants to be the best son and brother, and his employees to be the best boss. Go Here for additional information.
At the beginning of the interview, Mr. Richard Liu mentioned that the name of his company was created with the initials of his then-girlfriend and his own last name when asked how he came up with the company name. In 1998 he opened a physical store selling computer accessories and expanded to twelve stores in 2002.
When the SARS breakout in 2002 happened, the majority of the population became home-bound resulting in closing all of his twelve stores temporarily. Selling online was the solution for his company to stay profitable.
E-commerce is the wave of the future for his company and at the end of 2004, he closed all twelve physical stores permanently and JD.com has seen exceptional growth since. As of the beginning of 2018, JD.com market value reached $60 Billion and has become one of the top internet E-commerce platforms in China.
Additional reference article: https://seekingalpha.com/article/4226658-jd-com-will-richard-liu-deliver-2019