Richard Liu Qiangdong: The Rise of JD.com
Richard has become one of the icons of modern day e-commerce, growing his online platform from literally nothing to a multi billion-dollar status. It turns out that Richard Liu Qiangdong has always had a knack for business, his parents were coal sellers who saw the need for a formal education at a young age in his life. He went to primary and tertiary institutions, studying sociology for his first degree. After his first degree, he took some time out to study computer technology and coding, after sometime understanding code, he became the head of Computing department at Japan life. This was a turning point in his life as he learnt his unique skills needed to help grow and organize people and develop projects.
Understanding his natural born skill, he knew he had to start on his own and reach full potential. After five years working for Japan life, Richard Liu Qiangdong started his first company, the company sold magneto-optical products and was an instant success around the region. He opened about 10 retail shops apart from their primary location and were on the road to greater things. Unfortunately, SARS outbreak happened and delayed profitability and a successful company. People couldn’t come out in person to buy things from the shop they didn’t because they feared getting infected.
The results of those decisions cost Richard Liu Qiangdong and the company profits after a while. He decided to stop the shops, close them down and used the money he got from them. With the money he got from them, he established his new venture call jd.com and the company has become highly successful internationally. It is currently only second to Alibaba on the e-commerce platforms of Asia. He is currently worth 12.5 billion dollars while jd.com is worth 40 billion dollars. Companies like Wal-Mart and WeChat invested heavily into the company and are ripping the profits. Today he’s a very successful fella and shows no sign of stopping soon. He’s a great example to future entrepreneurs and business minds of the investment world. The company now uses drones for long-distance deliveries, one of the first e-commerce platforms to do this.