Richard Liu is a billionaire and the founder of JD.com, one of China’s largest e-commerce platforms. He has helped make it the third most valuable retailer in China behind Alibaba Group Holding Ltd. and Tencent Holdings Ltd., with an estimated market valuation of $28 billion as of July 2018. In his latest blog post for JD, he discusses what it takes to be successful in today’s world: “Doing things that matter.” It boils down to three points: Focus on your passions; listen more than you speak; and think big but start small.
In another post, he talks about the challenges and opportunities facing JD today: “The next decade will be a golden era for e-commerce.” Richard believes that three primary factors for driving the growth of e-commerce in China. First, consumers want convenience – they prefer to shop online rather than physically going out because it’s more efficient. Second is greater access to the internet through mobile devices – significantly as data costs drop, making this form of shopping affordable even for lower-income individuals. The third is better logistics infrastructure such as warehouses and fulfilment centres, allowing companies like his own to focus on delivery speed and efficiency instead of worrying about how products get from A to B. The article details the company’s history and growth, Liu’s early life in China, his dream of starting JD.com.
- Lui Qiangdong
- CEO of JD.com, Founder and President of Jilin Yifang Group (Hebei) Ltd., Chairman and Director of Beijing Jingdian Shidai Co., Ltd.
- 50 Most Influential People in Business 2018 by Fortune Magazine’s China edition
- “Asia’s rising tech tycoon” Time Magazine as one of “The 100 most influential people in the world.” Ranked #41 on Forbes’ list “World’s Billionaires 2018,” with an estimated net worth of $12 billion. His company is ranked at #231 on The Global 2000 List for 2016, a compilation ranking the top 2000 public companies in the world
- Forbes China 30 Under 30
- JD.com is currently valued at $57 billion.
- Lui Qiangdong has a bachelor’s degree from Renmin University of China and an MBA from the University of Minnesota, Carlson School of Management
in 2017 he was named one of Time magazine’s most influential people, and Jeff Bezos, Mark Zuckerberg, Kanye West, etc., cited his “flawless victory over counterfeiters.” Also called Asia’s rising tech tycoon by Fortune Magazine and one of The 100 Most Influential People in business 2018 by Fortune Magazine’s China edition. In 2016 Richard Liu ranked #41 on Forbes’ list “World’s Billionaires 2018,” with an estimated net worth of $12 billion.
Fortune Magazine’s China edition, Lui Qiangdong, was also named one of the 50 Most Influential People in Business 2018. In 2005, He started as a deliveryman and is now Chairman and CEO JD.com (JD), currently valued at $57 billion. The company has over 266 million active users, making it the second-largest e-commerce platform in China. He studied only briefly before dropping out to start his own business, buying clothes from manufacturers wholesale and selling them directly to consumers online. Now owns 70% of this public company.
The predecessor of this business was founded back in 1998 under a different name, but it wasn’t until 2007 that it was rebranded to its current form as “Jingdong Mall”, with Lui Qiangdong serving as CEO since then. It went public on NASDAQ on May 22nd, 2014 (JD). This online marketplace offers products from more than 100,000 suppliers, including product categories such as Books & Media; Clothing & Accessories; Electronics & Appliances; Health & Beauty; Home Furnishing etc., which makes them one of the world’s top 500 e-commerce sites according to Internet Retail