Article Title: Richard Lui: A True Entrepeneurial Mind

Article Text:

Liu Qiangdong also known as Richard Liu is the founder and chief executive officer of china’s largest e-commerce platform JD.com worth over an estimated $12 billion U.S. dollars as of early 2018. Richard Liu’s business savvy nature and flexibility has created an empire that actively serves over 100 million shoppers and continuously uses new age technology to produce new solutions for a global economic environment.

Liu Qiangdong was born in the town of Suqian, in China’s Jiangsu province. Liu Qiandong had strict parents who instilled the value of hard work, and proper education, they also encouraged the then young Richard Liu to excel in all endeavours. Liu Qiangdong enrolled in the prestigious Renmin University of China where he obtained a bachelor’s degree in sociology, but Richard Liu spent most of his time as a student polishing his computer programming skills through freelance coding work. Richard Liu followed his degree with an EMBA from the china Europe international business school.

Upon graduation, Liu Qiangdong’s first entry point into the world of business was through a health product company Japan Life, where he held a number of roles before he left to venture into his own entrepreneurial world, he named his first business ‘jingdong’ a name that was coined from his name and that of his then girlfriend. He sold magnetic-optic products. The business which was started in the year 1998 came to a close in the year 2003, and in 2004 JD.com was born. In the early stages of his online venture, Richard Liu sold the same magnetic-optic products that were initially offered in his brick and mortar stores. Not long after, other vendors saw the usefulness of his platform and began selling their wares on his site. He leveraged these newly formed business relationships into long term partnerships and began selling high quality goods on his platform. Liu Qiangdong did not allow past business failures to hinder his dreams, instead he learnt from those mistakes and built a better business. He truly proved himself a true entrepreneurial genius.

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