The Rise of Richard Liu Qiangdong

Liu has always thought outside the box, there is no surprise why he is one of the richest men in China. He was a child of entrepreneurs who shipped coal. They understood the need for a formal education and trained him through primary and tertiary education. Right now, his company is worth about 45 billion dollars. Initially he was an employee of Japan life.

He was the head of Computing activities and the experienced upward trajectory because of his leadership in that department. Liu had always known knowledge was power, with this, he found new ways to harness skills. He learnt computer codes and used it to understand e-marketing business. These two skills have gone a long way to make him what he is today.

Luis’ journey in entrepreneurship started when he started selling magneto-optical goods shortly after resigning from Japan life. Fortunately for him, he was quite successful and as a result, opened about 10 other shops around the region. At a point where it seemed like nothing could go wrong, the SARS outbreak broke and was disaster to his plans.

Nonetheless, his company and employees kept pushing on, maintaining their good level of customer service and quality operations. Due to the outbreak, not a lot of people could come directly to the shops, this impacted profits and Liu then made a decision that will change the course of his life. He ended up closing all the shops, and with the money, started a new venture known as JD.com.

The company was an e-commerce platform that did not require customers to be physically present. Instead all they had to do was purchase an item and expect delivery within a set time. Other companies like WeChat and Walmart saw the potential of JD.com and chose to invest in it. WeChat invested a sum of about 250 million dollars for a stake in the company. As a result JD.com would be advertised for free on WeChat to a base of almost 1 billion people.

For More info: variety.com/exec/richard-liu/

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