JD.com’s founder, chairman, and CEO, Richard Liu, established the business in 2004 under the name Jingdong. Liu’s parents raised him in the small village of Chang’an, where they worked as rice farmers. At the time, the community lacked running water, electricity, and other contemporary conveniences.
He would remain with his maternal grandmother during the day while his parents were at work. He would assist her in the kitchen and go with her to buy pork at the farmer’s market. Liu showed an early aptitude for innovation. He proposed using hot water as a simpler method of removing fat from a pan.
After graduating from college, Richard Liu enrolled at Renmin University to pursue sociology. He worked at a small firm and taught himself computer programming while attending the university. The need for computer programming expertise at the time was considerable. He put a lot of effort into getting his first personal computer and mobile phone.
He started a restaurant with some money he had saved from computer programming. However, the restaurant went out of business in less than a year due to the misuse of funds by his staff.
Even after the business failure, he didn’t lose hope. This motivated him to start JD.com. In addition, he enrolled and graduated from the EMBA program at China Europe International Business School.
Later, in 1998, Liu founded the distribution business Jingdong. The company sold trustworthy and high-quality magneto-optical products. Liu Qiangdong’s dedication helped the company grow quickly. It expanded into a network of shops in Shanghai, Shenyang, and Beijing, making about $9 million a year.
After the SARS pandemic broke out in 2003, Richard decided to major in the booming e-commerce business. He spent most of his office hours developing a website for his business and learning more about his consumers. Liu works as a delivery person for his clients’ orders one day a year to show his commitment to them.
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Learn more about Richard Liu on https://finance.yahoo.com/news/richard-liu-propels-jd-q2-210144432.html