When it comes to business in China, Jack Alibaba has been the reigning king when it comes to selling online goods and having a large presence throughout the nation. He has also been a major figure throughout television and YouTuve, which has allowed him to become something of a celebrity throughout China. Despite this, there has been someone else in the same field that has managed to become one of the wealthiest men in the entire nation, Richard Liu Qiangdong. Richard has been able to rise tremendously in popularity over the past few years, especially now that he has the largest e-commerce platform in China.
Richard Liu Qiangdong coined the term JingDong, which is what JD.com is named after. Richard made this name while he was still working at a former company known as Magneto Optical Parts. This company was another of Richard’s, but it ended up closing down because of the SARS epidemic that swept over China. Richard Liu Qiangdong started this company back in 1998 and it did well all the way up until the epidemic hit. Following these events, Richard collaborated with his employees and through brainstorming, they come up with the idea for an online retail company. By going online, Richard could avoid putting customers and employees at risk during the epidemic.
After starting up his new online retail company, JD.com, progress was steady and within the first year, the company was able to double in size. The major reason for this was because Richard Liu Qiangdong kept incorporating new products to the platform for customers to buy. Go Here to learn more.
Year after year, JD.com was growing by leaps and bounds and eventually they were approached by one of the largest media platforms in China, WeChant, which is owned by Tencent. Tencent invested more than 200 million dollars into JD.com, putting that at a net worth over 1 billion dollars. Today, JD.com has grown to a net worth of more than 11 million dollars in US currency.
In an article on AACSB.edu, Liu was listed as one of the “Most Influential Leaders”. As a testament to Liu’s admirable business practices, he has received numerous national and international awards for his entrepreneurship, business influence, innovation, and leadership.
Learn More: https://jdcorporateblog.com/about-liu-qiangdong/