Mr. Liu is the CEO JD.com, an online retail company that he started in 2004. He has worked hard to make the company successful in China amid the competition from other online retailing companies such as Walmart and others. It has become the online platform of choice in China because of the variety of products it offers and at a reasonable price. Richard Liu Qiangdong enrolled in the Renmin University of China to study where he completed his Sociology degree. Later, he completed his EMBA.
He has always had the desire of becoming an entrepreneur. His ambitions were quite different from those of his peers who wanted to go abroad for studies and become civil servants. Richard Liu revealed that he even tried to manage a business during his third year in the university, but the business collapsed. He could not start a business immediately after school, and therefore he was briefly employed in a shop. Richard Liu comes from a humble background, and when his grandmother got sick, he had to find a way of paying got her medical needs. In 1998, these circumstances forced him into opening 4 square feet shop to sell computer accessories naming it JIngdong. The company performed better than he had expected and he started opening similar shops in various location until he had 12 of them by 2003.
In 2003 the SARS pandemic hit China, and the retail shops’ owners felt its effects. Richard Liu Qiangdong sent all his employees home and closed down the shops. At this moment, moving to online business was the best choice that could be made. In 2004, JD.com kicked off its operations in China, and within no time the company started performing exceptionally well. Despite the wealth that Richard Liu Qiangdong has gained from his business, he has always remained humble. He considers himself lucky to have resources that he uses to create a positive impact in the society. He is putting effort into making JD.com an international online retail business. The goal shall require engagement in expansion strategies such as acquisitions among others. Richard Liu Qiangdong hopes to leave a lasting legacy of building the most impactful online company in the world.