Richard Liu started his company in the year 1998, whereby he says that the name of the company came as a result of him joining the last characters of the his girlfriend’s name together with the last characters of his name. He attended college in Beijing, China whereby he had the ambitions of starting his own business instead of being employed by the government.
Richard Liu Qiangdong opened a couple of computer selling stores and during the SARS epidemic, his business was adversely affected as he sent his employees home while he, together with other managers remained to operate the stores. However, it was during this time that the idea of online selling hit him together with the rest of the managers and due to its many advantages such as low cost Richard Liu decided to adopt it for his business.
Honesty within his online business is what majorly attributed to its success as many of the online sellers at the time sold counterfeit products. JD.com majorly specialized in technology products such as mobile phones at the time of its inception.
Currently, JD.com has quite a large number of employees and its C.E.O. Richard Liu aims at making the company to be the leading e-commerce platform in the world. The company mainly deals in three major areas that is; e-commerce, logistics and technology whereby Richard Liu also aims at expanding provision of these services to other parts of the world other than China through the use of different strategies such as acquisition and cooperation with local partners.
After ordering an item from the company, a period of time is set after which the product is delivered to your doorstep depending on your location. The company offers a wide variety of products whereby the company is concerned about price fairness and efficiency within its operations. See This Article for additional information.
According to Richard Liu, being wealthy is a position of responsibility rather than burden or pleasure since one can use the wealth as a resource in helping to build the society in general or one’s own company. It’s for this reason that he has donated some of his money for charity.
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.