In this modern day of technology, Richard Liu has become a household name in China. He is one of the country’s most influential businessmen. He is recognized for having one of the most successful e-commerce businesses in Asian and the world. Richard Liu is the founder and owner of JD.com.
Born into a poor family, Mr Liu’s entrepreneurial ventures began even before he graduated from University. He said, it was important to be able to help his parents and his grandmother. His first restaurant went belly-up quickly, but the failed venture did not dishearten Mr. Liu. He always knew that by creating a successful business, he would have enough money to help his family. Upon graduating from Beijing university, he took what he learned and opened a small electronic accessory store. This second venture became a 12 store enterprise. But in 2004, he came across another huge obstacle, the SARS breakout. The illness was a major health catastrophe. Mr. Liu did not want his employees to get sick, so he sent them home. Faced with a huge loss of revenue, Richard Liu and his manager decided to place their inventory online and thus, the first version of JD.com came into being.
Today JD.com has become the largest e-commerce Venture in China. In a recent interview with David Rubenstein, Richard Neal confessed that his success is largely due to his innovative logistics model, one Amazon later followed to improve their own delivery times. Mr. Liu also said that JD.com now has delivery times as fast as 6 hours in Beijing, and a one to two day delivery in the rest of China.
JD.com is currently the largest e-commerce provider in China and about the size of Amazon in the United States. The company has more than 100,000 employees and over 500 different distribution centers located throughout China. It remains a privately held company with continual growth.
When asked about the future Richard Liu Qiangdong you suggested that his plans are to be the largest e-commerce store in the world. However, he says that it is not his business that he is most proud of, but it is his family.
Liu Qiangdong’s: Twitter.