Richard Liu is one of the wealthiest business personalities in the world. He is the founder and CEO of the biggest retailer in China known as JD.com. As the head of this company, he has seen it develop from a small business into now a $60 billion business. JD.com currently employs over 167,000 employees with over 30000 being added in the past year. JD.com is currently ranked at number four in China by market value, and according to Richard Liu, they are working towards the number one position. He dreams that one day, JD.com will be the biggest company in the world. He believes that the biggest company in China will consequently be the greatest in the world. Read This Article for related information.

Formation

JD.com was formed in 2004 as an internet based business. The name is derived from the names of Richard Liu and his first girlfriend. At the time of formation, it was dealing with computer accessories and IT products only, due to lack of sufficient funds to expand their products portfolio. Within the next six years, the company engaged in a massive expansion initiative that saw them avail almost every product available in the market under their portfolio. Today, JD.com is classified as one of the leading organization in the world with over one billion products under its portfolio.

What makes JD.com unique?

One of the reasons why JD.com picked up quickly is that they concentrated on providing products in a manner which filled the gaps that existed in the market before them. Richard Liu identified that there was a shortage of legit online businesses. Many businesses that existed before JD.com were dealing with counterfeit products and business malpractices such as price cheating. Richard Liu identified these as some of the problems that deserved to be handled carefully.

Today, Richard Liu Qiangdong believes that although JD.com is unique in its way, it is doing better than some of the other brands in China and America. Liu’s focus is on making JD.com bigger than Amazon. Currently, the company has over 500 logistics centers, the highest number for any internet based business in the world.

 

More about Liu on https://www.jonesday.com/rliu/

 

 

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