Richard Liu Qiangdong, Entrepreneur of JD.com
Richard Liu Qiangdong is the founder and initiator of JD.com. JD.com is one of the largest e-commerce platforms in China. Qiangdong attended Renmin University of China during 1996. He received a degree in sociology. Following his college eduction, he attended China Europe International Business School. It was there that he received an EMBA in business. Directly proceeding his graduation from business school, Qiangdong was employed by Japan Life, a health product company. During his experience at this company, he was able to hold multiple positions, such as director of business.
Richard Liu Qiangdong started his Jingdong business in Beijing, China. Following declined success of a particular business model, he renovated his business plan and initiated JD.com in 2004. In 2005, he began focusing primarily on consumer goods and electronics. During 2014, a decade after the company began, Tencent purchased a 15 percent equity stake in JD.com. The deal was initiated for $215 million. JD.com has accomplished efforts for buisness and growth of company efforts and funds in e-commerce. See This Article for additional information.
During a recent interview with World Economic Forum, Richard Liu Qiangdong sits down for an interview to discuss his success of JD.com. Qiangdong speaks on the initiation of his company and the ideas for the successful business. He had a previously engaged in a business with brick and mortar retail store. The purpose for starting this business was to support his family as a result of financial problems. He desired to study abroad but could not afford to. As a result, he began working with computers and initiated his own business to generate revenue. He then closed his shops to open the e-commerce online business. Richard Liu Qiangdong wanted to enter the online platform in order to execute business faster.
Richard Liu Qiangdong spoke about the quick escalation of his business by building better thn competition. JD.com currently has a large market value according to stats in the United States. The goal of JD.com is to have the highest market value in China e-commerce.
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