Richard Liu’s Journey In The E-commerce World

Richard Liu, the CEO and chairman of JD.com, founded the company in 2004 formerly known as Jingdong Mall and 360buy Ltd which is currently the leading e-commerce giant in China. Richard attended the People’s University of China where he graduated with a sociology degree in 1996.

He, however, spent more time educating himself on computer programming as he had an interest in the increase in possibilities of the new internet. Richard also gained an EMBA from China Europe International Business School. He has accumulated a lot of success and wealth having been able to transform a number of electronic stores to an online commerce.

Liu Qiangdong established his business, Jingdong, selling products like CD ROMs in a storefront in Beijing in 1998. By 2003, there was tremendous growth as he had increased his storefronts to twelve in Shanghai and Beijing. The outbreak of SARS in China however disrupted his plans to expand and threatened the future of his business’ growth.

As the number of internet users was continually increasing during this period to reach approximately 1 billion user globally, Richard began considering the potential of an online business which lead to the first reiterations of JD.com.

In 2004, his business went online selling mainly magneto-optical devices but later assorted to incorporate mobile phones, electronics, computers and other technology devices. In 2007, Richard Liu changed the name of his business to 360buy.com and in 2013, he changed it to JD.com which cost him five million dollars.

JD.com is partially owned by Tencent with a 20% share in the firm and is among the largest business to consumer online retailer titans in China. With over 301.8 million users who are active, JD.com has become a big competitor to Alibaba. JD.com has also welcomed AI distribution leading it to become the world’s front runner in high technology with the use of drones, robots and autonomous technology.

The company is joining other high-tech companies in replacing man behind the wheel with systems that can self-drive by operating deliveries with no driver, testing delivery services with robots and building airports for drone delivery. JD.com’s first autonomous truck was revealed in May 2018.

JD.com grew its users to over 220 million who were active customers by end of 2017 and over 150,000 workers reaching a revenue of approximately 54 billion dollars. Refer to this article for more information.

 

More about Richard Liu on https://corporate.jd.com/liu-qiangdong-jd-ceo-about