The Founder And CEO Of JD.com, China’s Largest Online Retailer – Liu Qiangdong
Richard Liu is the founder and CEO of JD.com, a Chinese e-commerce site that sells all kinds of products. JD.com was founded in 1998 by Liu and Bin Wang, now co-chairman of the company. The company has grown from its initial few hundred thousand users to over 300 million users today, making it one of China’s largest online retailers. Its sales exceed $30 billion annually— that number continues to climb daily.
Founder of magneto-optical store
In 1998, Liu Qiangdong opened a magneto-optical store (a 12-square meter shop called Jingdong) in Zhongguancun high-tech zone. Jingdong was the Chinese name for JD.com, which Liu founded with three other people in Beijing. At the time, most of China’s internet users were concentrated in Beijing and Shanghai; internet speeds were slow, and only 20 percent of people had access to web browsers to surf the web on their computers.
These conditions did not deter him; instead, Richard saw them as opportunities: “I knew what I wanted—I wanted an online business.”
China’s Largest Online Retailer
JD.com has over 400 million customers who shop with the JD Mall online marketplace and its mobile apps. JD.com also operates an online shopping platform similar to Amazon called Tmall (which has 1 billion customers) and a food delivery service called Tao Bao Kitchen Delivery. It’s one of China’s most famous companies, ranking sixth on Forbes’ list of top tech companies in China (which ranks companies based on revenue).
JD’s stock has been rising since it went public in 2014; its shares have grown more than 50% since then alone! Today their share price sits at around $37 per share – which means that if you’d bought a single share when they first opened for trading back then, it would be worth almost $4k today.
Partnership
In 2004, Liu purchased a controlling stake in Beijing Xingbao Information Technology Co., the distributor of IBM and Lenovo computers, among other brands. In December 2005, he partnered with Motorola and Intel to open a computer appliance store on JD.com — this was the beginning of JD.com. Refer to this article for additional information.
Find more information about Richard Liu on https://www.jdpay.com/richard-liu-jd-ceo-about
Richard Liu is the founder and CEO of JD.com, a Chinese e-commerce site that sells all kinds of products. JD.com was founded in 1998 by Liu and Bin Wang, now co-chairman of the company. The company has grown from its initial few hundred thousand users to over 300 million users today, making it one of…