Richard Liu Qiangdong is a successful internet entrepreneur, founder and CEO of China’s JD.com. JD.com is one of the largest e-commerce platforms in all of China. The popular American retailer Walmart, is also a shareholder in JD.com and recently raised their stake in the company. To increase it’s reach, JD.com invested in Farfetch with the goal of maximizing each company’s experience in luxury fashion. With a Sociology degree from the Renmin University of China, Richard Liu performed freelance coding work and enrolled in China Europe International Business School earning his EMBA. While he was a college student he invested in a restaurant but that business failed in a matter of months leaving him in debt.
After he graduated from China Europe International Business School, he then worked for Japan Life as director for computers, director for business, and as a logistics supervisor. By 1998 Richard Liu opened his own store in Beijing selling authorized magneto-optical products. Just five years later he had expanded his company to a dozen stores. Due to the SARS outbreak in 2003, Liu had to re-think the need for his brick and mortar stores and quickly chose to focus on e-commerce where he chose to sell a vast variety of products alongside electronics.
With a keen focus on seamless customer transactions and the use of technology to aid customers and the company, Richard Liu made large gains in revenues. He combined these efforts with the creation of a full category strategy for JD.com which has helped to make the company become one of the leading e-commerce businesses in China. By 2005 Richard Liu was offered 18 million yuan for JD.com. He rejected the offer to sell his company. JD.com is sometimes compared to Amazon due to similarities in their business models. By 2014, Tencent bought a stake in JD.com and agreed to promote JD.com on it’s WeChat social network that has almost one billion active monthly users. By the start of 2018, Richard Liu Qiangdong’s net worth rose to nearly $13 billion dollars.