Richard Liu, also known as Liu Qiangdong is a Chinese businessperson. He is the founder of JD. Com, a well-known trendsetter in the Chinese e-commerce industry. Liu Qiangdong is a self-made man. He began his entrepreneur journey way back in his college days when he invested the money he got from his programming work into a restaurant business. However, the venture failed, plunging him into debts.
The failure of his restaurant business did not dampen his entrepreneurial spirit. Upon completing his college education, Liu secured a job with a Japanese health product enterprise, Japan life. At Japan life, he successfully worked as the director for business, computers and, supervisor of overall logistics. Two years on, Liu Qiangdong bounced back to business. He established his own company, Jingdong. The company was a distributor of magneto-optical products and, was located in Zhongguancun High-tech Industrial Park, Beijing. The company, under Richard Liu’s management, registered an impressive growth and development. Within five years in operation, Liu had opened 12 more stores in 2002.
The 2003 TSARS outbreak deal Liu another blow. The outbreak kept the residents of Jingdong grounded in their homes. However, years of experience, knowledge and, talent served Liu well this time. He immediately saw an opportunity in his challenges and went online. A year later, he launched his online store, JD. Com. He closed all his brick and mortar establishments. Today, JD.com is a leading e-commerce giant in China. It has also attracted other notable investors.
One such partner is Walmart which has put a stake in JD.com. Recently, Wallmart increased its stake in JD.com to 12%. By 2017, JD.com had invested a total of $397 million in Farfetch. The investment deal between the two companies is a partnership that respects and promotes their reach in China and, expanding interest in high-end fashion utilities. Today Liu is worth $57.6 billion. Forbes has reported his net worth to be $11 billion.
Tencent, the owner of WeChat also acquired a 15 percent stake in JD.com worth $215 million. In exchange, WeChat agreed to promote JD.com in its popular social network. The deal was fruitful and, within two months, JD.com went public in the US. This deal also catapulted JD.com to the level of the then established e-commercial giant, Alibaba. Today, the two companies have become equal competitors.
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