Richard Liu is the founder of JD .com which is China’s top e-commerce and Retail Company. His business acumen has made his estimated net worth to be twelve million dollars. He heads a business that serves one hundred million clients and is a pacesetter in spearheading innovative technology in e-commerce and retail. Born in Jiangsu province of China, his coal mining guardians encouraged him to work hard, get proper education and pursue success in life. After high school, he enrolled at the People’s University f China earning his undergraduate degree. He studied Sociology at the institution. To make himself competitive for the job market he started learning coding and some computer science concepts. He landed a job after his graduation at a large scale natural supplement manufacturer where he climbed the corporate ladder to be the Director of Computers at the company.
Richard Liu Quiangdong left Japan Life to start his own business. He rented a small retail space where he sold magneto-optical products with an emphasis on excellent customer service, efficient transactions and harnessing technology to grow the business. In five years, the business had continued to thrive and had twelve retail stores which were not always the case for most business in their formative years. Now-Famous Jingdong is China’s largest e-commerce and retail business. 2003 was the year of immense change in China’s retail industry, and this seemed unfriendly to most small retail enterprises.
Richard Liu adapted to the new market shifts making the business survive that hurdle. He, however, made a radical decision to change Jingdong to entirely an electronic commerce company. This decision was informed by the change in consumer behavior especially with the advent of new technology. Two years after this radical move all of the stores closed. This made him rebrand the business to 360 Jiadong. This time he focused on customer service thus the idea customers get whatever they want anytime. He revamped the shipping procedure to ensure that client orders were delivered swiftly. This coupled with the dedication to come up with an e-commerce platform that caters for customers’ needs made the business come back to light again. The business is now a Fortune 500 company, and Richard Liu Quiangdong continues to be involved in operations of the company.