JD.com is among the most prominent platforms of e-commerce in China, and it’s worth is currently $57.6 billion. Liu Qiangdong is extensively acknowledged for being the Chief Executive Officer and founder of JD.com. According to Forbes, the net value of Liu is currently $11 billion. Among its stakeholders is Walmart that recently raised the stake to twelve percent. It was in the mid-2017 that announcement was made concerning JD.com’s investment of $397 million on Farfetch alongside a mutually valuable partnership which invests on the respective reach of the two firms within China as well as the experience connected to luxury fashion.
Richard Liu Qiangdong is a graduate of the Renmin University of China. He graduated in the year 1996. Despite studying sociology, he consumed a lot of time enhancing his skills on computer programming through the coding tasks alongside freelance. He went ahead to study his masters at the China Europe International School of Business. It is after his graduation that he began working with a health product firm named Japan Life. He occupied various positions in his tenure of two-year tenure alongside business and computers directors.
It was in the year 1998 that Richard Liu went out individually and opened a shop that sold magneto-optical items within Beijing. He gave it the name Jingdong about his name and that of the girlfriend he then had. The expansion was incredible, and it reached twelve stores the year 2003. However, the outbreak of SARS that happened that year made customers and staff remain house-bound which threatened the future of Jingdong. This then forced Richard to make a reconsideration of the brick-and-mortar enterprise structure that led to the birth of JD.com in 2004. Within a year, he had closed all the stores to concentrate on e-commerce. It is at this point that he started selling an assortment of quality electronics alongside consumer goods. Go Here for more information.
Tencent is the owner of Wechat that acquired a stake of fifteen percent in JD.com worth $215 million. In line with the deal, WeChat decided to boost JD.com through its social network with over a billion active users every month. The rapid expansion and growth of JD.com match Alibaba ’s which makes them the two leading Chinese giants and fierce rivals in line with e-commerce.
Due to his hard work throughout the years, Mr. Qiangdong has managed to accrue a few important accolades over the years. One of these incredibly amazing awards was the “2017 Variety500 Honoree” in the variety honors.