An Insight Into Richard Liu Qiangdong’s Success

Richard Liu Qiangdong found, it’s one of the largest e-commerce platforms in China with a net worth of $57.6 billion. Liu is the chief executive officer and has a net worth of$11 billion as per Forbes. Richard Liu graduated from Renmin University of Chine with a degree in Sociology in 1996. However, as a student, he spent most his time polishing his computer programming skills mostly through freelance work. He later graduated from the China Europe International Business School with an EMBA. After his graduation. After his graduation, Japan Life a health product company hired him where he performed different roles like the director for computers and business for two years.

The entrepreneur was recently interviewed at the World Economic Forum Annual meeting in Davos-Kloster, Switzerland. He was interviewed by David M. Rubenstein the Co-Founder and Co-Executive Chairman of The Carlyle Group. In his interview, he talked about how coming into existence from scratch. In 1998, he opened his own shop which sold computer parts in Beijing. It was named as “Jingdong” which was the last name of then-girlfriend he confessed in front of the audience. The store was expanded and had 12 stores by 2003. However, the SARS breakout put his business into jeopardy. He mentioned how staff stayed within the safety of their homes and showed true leadership skills by making sure his staff had enough noodles and water to survive the virus. Whereas, the managers had meetings to brainstorm ideas to secure the future of his company. If it wasn’t for the SARS breakout, Liu wouldn’t have been forced to reconsider the business model of company.

In his interview he mentioned, it was one of his managers who suggested to take everything online. David Rubenstein asked Richard Liu about where is the manager now and Liu answered with a smile that he himself is a billionaire now. was launched in 2004 and around 2005 all the physical stores were shut down. The focus was from then was e-commerce. has a zero-tolerance policy for counterfeit products and fast delivery service Richard Liu mentioned in the interview. He stated that his company had big plans for the future and his vision to expand globally.

For details:

Leave a Reply

Your email address will not be published. Required fields are marked *