Richard Liu Qiangdong is the CEO of one of the top ten most liquid market cap companies online today: JD.com. It sells billions of goods ranging from fashion to automotive to electronic goods and started out when Richard was selling computer parts around China. Richard Liu is considered as among the top entrepreneurs in the e-commerce industry. After launching his first online retail website sometime in 2004, he founded his JD.com only a year later.
In an interview in 2018 with Rubenstein titled “An Insight, An Idea”, Richard Liu told him that he started JD.com in 2004.
Now Liu’s worth an approximately estimated $10 billion and has a daughter that is two years old who knows nothing of the hard life that he endured to get to that point. He hopes that she will never know and just know what life she will want, because he grew up poor and hard-working like most of us. His grandma was sick, and he had to take care of her, so he went to college to try to get a better life for her.
Competition is fierce for Richard Liu. Many friends of his discuss protectionism in China and are feeling that it is harder for them to get into the United States than ever before. Protectionism is “quite serious there, and not a good thing. I hope that it will hurt the U.S. economy one day too and that we will be integrated.” Richard Liu hopes to leave something to China within the next century so that when he retires his people will be able to say that he is a good guy; He doesn’t think he will retire before he is 65. The thing that gives him the greatest pride is family. He really wants to be a good son, husband, father, boss, and good partner all around. “You do play different roles in life.” Find More Information Here.
His parents did transport on a canal in a struggling business, and so he left of the city to start a restaurant which failed belly-up. The lesson that he took away from that was to dedicate more time to the business, because at the time he was in college and focusing all of his energy on that. Before he went to university, he needed to make money. The life lesson was huge for Richard.
Visit him on https://www.jonesday.com/rliu/
The recent interview featured on Weforum.org discusses the creation of the Chinese retail giant JD.com. The interview was conducted by Mr. Rubenstein on behalf of the website. Richard Liu Qiangdong is featured in the video interview. Richard Liu is the founder and operator of the company.
Liu Quiangdong has contributed to its substantial growth over the years. Immediately, one of the first things that Mr. Rubenstein wants to know about the company is where Richard Liu got the name from. JD.com is a shortened version of the original name Jingdong Mall. Richard Liu smiles and explains that it is the mash-up of his name with a former flame. The relationship did not last but the company has done exceedingly well. In fact, it is one of the largest businesses in China currently.
Liu Quiangdong admits to the fact that he originally started Jingdong Mall as a way of bringing in income for his family. They had recently suffered the failure of a transportation business and were low on funds. His grandmother had raised him, and she was in need of money for medicine. He took this as a sign that he should step up and care for his family, so he started the business. Jingdong Mall did quite well at the beginning. It originally was only one location, but Richard Liu expanded it to more than a dozen. Eventually, he saw that there was a lot of value in the online market. This coupled with a recent outbreak of the SARS virus catalyzed him to move into that market. Go Here for more information.
Richard Liu tells Mr. Rubenstein that one of the biggest hassles that he had throughout this entire process was establishing rules in the online community. In 2004 there were not a lot of rules on retail entities. Many of the customers that he spoke with had complaints about other retailers. They were misrepresenting their products, or they were selling counterfeit items. It was a bit of a hassle to establish rules. Richard Liu did not want his company to participate in shady dealings. Liu wanted to represent his products with honor. He believes that this is one of the reasons why JD.com has been so successful.