From Small Business Owner To Global Competitor – Richard Liu Qiangdong’s Story

Currently worth at least $57 billion, is one of China’s largest e-commerce platforms. Its founder and CEO, Richard Liu Qiangdong, has an estimated net worth of 7 billion.

A graduate of Renmin University of China, Richard Liu would follow up his degree in sociology with  EMBA from the China Europe International Business School.

After a two-year stint working with Japan Life, Liu opened a small retail business in Beijing. Named Jingdong, the company focused on selling computer parts. A massive success, Jingdong would go on to expand to 12 stores by 2003.

That same year, trouble would strike.

The SARS Epidemic

Near the end of 2002, China was the victim of a dangerous viral outbreak. Leading to the deaths of hundreds, the SARS outbreak ravaged the Beijing region. Forcing both customers and staff alike to become home-bound, the future of many brick-and-mortar stores turned grim.

Richard Liu Qiangdong was no exception.

Livelihood threatened, Richard Liu needed to change direction. Recognizing a change in the shopping habits of consumers at the time, Liu sensed a powerful business opportunity.


The Birth of

By 2004, Jingdong’s physical stores had been replaced with digital ones. Jingdong had become a fully online operation.

Renamed 360Buy Jingdong, the change was a major success. Strong customer support quick delivery and a powerful user experience, proved itself a strong competitor in the online business world.

Continuing it’s focus on selling computer parts, the company’s success would soon attract other hungry businesses to itself. Cultivating a strong business relationship – one that would turn into a long-term partnership – would expand to sell a large variety of consumers goods.
In 2014, became China’s first publicly traded company on NASDAQ. The decision would lead to a 15% rise in stocks that same day.

Richard Liu Qiangdong continues serve as CEO and remains an essential element in daily operations.

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