Meet Richard Liu, China’s Renowned Business Leader
Richard Liu Qiangdong is the founder of JD.com, a major Chinese e-commerce company. He founded the company in 2004 and has led it ever since, growing it into one of the largest Internet retailers in China. Liu’s wealth is estimated at over $7 billion. This article will focus solely on Richard Liu and his journey with what would eventually become one of China’s leading e-commerce sites: JD.com.
Liu was featured as an Honoree in Variety 500 entitled, “JD.com Richard Liu; Founder / Chairman / CEO”, as a result of his persistence, innovation, and hard work. During his free time, the billionaire loves to either spend time with his family or volunteering at Red Cross.
Education and philanthropy
Richard is also passionate about education and philanthropy, regularly donating to charities and backing education-oriented projects through his WeWork Foundation. Last month, he hosted an education summit for more than 400 young entrepreneurs from across China who are working to create innovative companies that bring about positive change in their communities and countries, according to The Wall Street Journal (WSJ).
JD.com
By the mid-2000s, China’s Internet infrastructure was increasingly moving from a state-owned backbone provider to a commercial infrastructure run by private companies like Alibaba and Baidu, i.e., JD.com, according to The WSJ. Before its launch in 2004, Liu Qiangdong had already founded several startups in the industry, including mobile phone broker Joyo and CD seller Mingdian, both of which were later sold off to other investors.
He used his wealth from previous endeavors to start JD.com, an online retail site selling various products, from electronics to clothing. With the help of co-founder Richard Liu, JD.com was established in Beijing just months after Alibaba was launched. The website was an instant hit and became one of the best-performing e-commerce sites of its time.
The company’s initial success came from offering lower prices than competitors such as TMall and 360Buy. It supplemented this model with more traditional marketing methods, such as television ads aimed at Chinese consumers aged 16 to 40 who were eager to buy products at low prices. Refer to this article, for more information.
Follow his Twitter page on https://twitter.com/liu_qiangdong
Richard Liu Qiangdong is the founder of JD.com, a major Chinese e-commerce company. He founded the company in 2004 and has led it ever since, growing it into one of the largest Internet retailers in China. Liu’s wealth is estimated at over $7 billion. This article will focus solely on Richard Liu and his journey…