Richard Liu Qiangdong is a Chinese entrepreneur who founded the largest online retailer company in China, Jingdong or commonly known as JD.com. Qiangdong was born in 1973 in China, and he has been compared to the owner of Amazon, which is the largest online retailer firm in the world because both companies appear to have great business models. Qiangdong studied at the Renmin University of China and graduated with a bachelor’s degree in sociology in the year 1996. However, during his time at the University, Qiangdong took it upon himself to study computer programming.
Jingdong was established by Qiangdong in 1998 in Beijing as a retail store for selling magneto-optical products. Jingdong was trying to provide customers with genuine products since there was a trend of many counterfeits in the market during this period. The outbreak of SARS in the year 2003 led to Qiangdong rethinking about the future of his company, and he decided to turn it into an online retail store. This was because the epidemic resulted in his employees as well as the customers being unable to visit the store. By this time, Jingdong had already opened 12 brick and mortar stores in China.
In 2004, Qiangdong launched JD.com website thereby turning the company into an e-commerce website. Soon after, the company closed all the brick and mortar stores. Qiangdong has been the CEO of JD, and he is currently worth more than 23 billion dollars. After launching JD.com, the company began offering a wide variety of products in addition to the consumer electronics it was previously offering. Qiangdong has steered JD.com into becoming the second largest online retailer in the globe in terms of revenues. The company is also the largest of its kind in China. Liu Qiangdong was included in China’s Rich List in 2019.