Richard Liu is one of the world’s most successful entrepreneurs. Valued by Forbes at a net worth of $11 billion, firmly establishing Richard Liu Qiangdong as one of the wealthiest people on planet Earth, the business magnate is known for his creation, expansion, and near-flawless operation of Jingdong, one of China’s largest e-commerce platforms.
JD.com, also known as JD or JingDong Mall, was born in 1998 as a brick-and-mortar electronics retailer based in Beijing, China. In 2003, the company had 12 locations. The next year, Liu opened JD.com – the rest is history.
The beginnings of JD.com
In 2004, Richard Liu’s company didn’t have the oodles of cash available that it currently does, limiting its ability to purchase goods to stock the company’s beginning inventory. At first, Jingdong began selling computer products that were often part of companies’ information technology infrastructures. Next came digital goods and mobile phones. Shortly after JD.com began stocking mobile phones, digital products, and a greater variety of computers.
Six years after Jingdong migrated into the online retail sector, JingDong Mall was fully stocked with all kinds of products.
Though Richard Liu Qiangdong wasn’t sure if his business would perform well after it became a tried-and-true, real-deal e-commerce platform instead of a retailer of electronics, the switch proved to be the best move of Richard Liu’s career. Go Here to learn more.
Here’s where JD.com stands today
Jingdong is currently valued at slightly less than $60 billion. The company also employs some 170,000 people. The company operates several subsidiaries and offshoots of its core business, such as JD Finance and JD Worldwide.
In mid-2014, Richard Liu Qiangdong managed to have JD listed on the NASDAQ Stock Exchange in New York City, New York. Jingdong was the first e-commerce platform from China to have its shares of ownership publicly traded on an American market. Just two months after the news from NASDAQ came, JD Finance pumped out a secure crowdfunding platform that remains one of the most popular in China.
Under the guidance of Richard Liu, JD Worldwide began importing products under its brand-new, international e-commerce platform that was separate from JD.com.