Richard Liu Qiangdong Opens Up About The Growth And Expansion Of JD.com
Today, JD.com is worth a staggering $57.6 billion and is among the leading e-commerce platform in one of the leading global consumer markets, China. The founder of this e-commerce platform Richard Liu Qiangdong has been sharing his growth and expansion journey ever since he launched the platform.
He has also been sharing about his life and experiences as an entrepreneur back when he was starting and now that he has made it. This entrepreneur is one of China’s top billionaires’ thanks to the growth and expansion of this e-commerce platform, and he is now worth $12 billion.
Liu Qiangdong has also been recognized by the “Business of Fashion Top Performing Businessmen of 2018”. An award that is very well deserved by Richard Liu Qiangdong. It is a reflection of his consistency and excellence in his business.
The conceptualization of JD.com
This may come as a surprise to you, but JD.com did not start its life as an e-commerce platform. It was first a shop named “Jingdong” that Richard Liu which he started in 1998 after he quit his employment at Japan life. This shop was located in Beijing and specialized in selling magneto-optical products. Liu worked hard to grow his business, and he had opened up 12 new shops by the year 2003. Unfortunately, the SARS outbreak that year, clients and employees could not go to the shops and Liu had to consider other options. Taking the business online was the best option, and this is how JD.com was conceptualized.
Growth and expansion
Richard Liu had taken his business online by 2004. The first step in his growth and expansion plan was to increase the portfolio of products his e-commerce platform sold. Liu went ahead to add consumer good and electronics to his e-commerce platform. From here, the platform began to grow. His incorporation of luxury items also aided the growth into his e-commerce platform most of which no other online market place sold.
With the continuing growth, investors started showing up on Qiangdong’s door with lucrative offers. The first investor was the conglomerate which owns WeChat, Tencent. Later, other international investors like Walmart followed, and the most recent is Google. To even grow bigger, this e-commerce platform is embracing technology. The company has the largest fleet of drones that it utilizes to facilitate fast delivery. Visit This Page for related information.
Learn More: https://www.crunchbase.com/person/qiangdong-liu