Richard Liu Qiangdong is the founder and CEO of JD.com, a leading e-commerce platform in China. The renowned businessman built the company from scratch. In an interview, with Webforum.org titled “An Insight, an Idea with Richard Liu”, he talked more about his career and JD.com.
He founded the company in 2004. When he was pursuing his university studies, his grandmother fell sick and he needed to find a way of getting money to fund her medical care. Hence, he started a computer accessory shop. In addition, he did not have money to go abroad and further his studies like his colleagues did and therefore, he couldn’t think of a better thing to do than start a business. Richard Liu Quiangdong later opened more stores. During the sars outbreak in China in 2003, he was forced to close down his 12 physical stores to protect his staff from the disease. He stayed at home along with his managers and the idea of selling online came up.
After 2 years, Richard Liu realized that e-commerce would be the trend for the future. He concluded that after finding out that selling online requires less logistics and improves customer experience. He decided to venture into e-commerce fully and since online market was what he calls “chaotic”, he needed to set new rules to make customers trust his business. Richard Liu decided that the business wouldn’t offer any counterfeit product and it would issue proper invoices. JD.com also strived to provide the best customer experience. That gave JD.com a competitive edge.
When Richard Liu Qiangdong started JD.com, he had limited finances and therefore, he couldn’t offer all products at the time. The business started with IT products and mobile phones. They added one product-line every year and after 6 years, the platform had almost all products. The company is now worth about $60 billion and it has over 167,000 employees. View Additional Info Here.
JD.com delivers products not only in china, but also across the world. In China, it only takes 6 hours to delivery products to customers. Fast-moving consumer goods have proved to be top-selling over the last few years. JD.com has made Richard Liu one of the richest people in China and according to him, wealth comes with a responsibility. The CEO plans to expand his business to Southeast Asia, Middle East and then, to the United States.