Richard Liu’s Successful Story Of Becoming One Of The Most Influential People In Ecommerce
Richard is a Chinese businessperson who has achieved considerable success as the founder of JD.com, a central electronic retail platform in China and worldwide.
Richard Liu Qiangdong was born in Suqian, a less well-off part of Jiangsu province, in 1973. He went on to acquire his degree in sociology from the People’s University of China in 1996. Yet, much of his time was devoted to coding and studying the new chances empowered by the internet.
Afterward, he pursued an EMBA from China Europe International Business School. Over time, Liu Qiangdong has garnered hefty wealth and accomplishment by altering a sequence of electronic stores into an online bazaar – making JD.com one of the world’s biggest e-commerce websites today.
In 1998, he opened Jingdong, a retail shop in Beijing that specialized in magneto-optical products such as CD ROMs. His business quickly expanded, and by 2003 he had 12 physical stores in Beijing and Shanghai. However, the SARS outbreak hindered his plans for further growth due to the decreased demand for his goods.
Seeking an alternative method for commerce, Liu Qiangdong began to consider the possibility of an online store as the number of internet users worldwide continued to rise towards 1 billion persons. Consequently, this idea materialized into JD.com, which launched in 2004, offering goods such as magneto-optical products and electronics like mobile phones and computers. The e-retail platform diversified what it offered customers over time while remaining competitive with other tech item retailers.
Since its foundation, with Richard Liu at the helm, JD.com has become a global leader in advanced technology and AI-driven distribution services, utilizing drones, autonomous systems, and robots. Their distribution network is the largest in the world and continues to grow with their testing of robotic deliveries and aerial drone delivery ports. This is part of its continuous effort to harness cutting-edge technology to replace manual labor, demonstrated by its first driverless vehicle launch in May 2018. This puts them at the forefront of numerous tech companies in China exploring self-driving systems as an alternative to employing human drivers.
JD.com recently unveiled its Blockchain-as-a-Service (BaaS) platform, the JD Blockchain Open Platform, which aims to provide businesses with an easy way to build, deploy and manage their blockchain networks. This new technology advances how companies can leverage the power of blockchain across a wide range of use cases.
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