Richard Liu is the founder and CEO of JD.com, the largest retailer in China. This is a company that he created from scratch. In an interview at the World Economic Forum, Liu revealed a lot of information about this business. He started by stating revealing that he is happy with how much he has achieved with this business, From scratch to now one of the biggest retailers in the world, this is a dream come true for Mr. Liu. The name JD.com is derived from the name of Richard Liu Qiangdongand his then-girlfriend. Before venturing into the retail business, the business was known as JingDong. It was started in 2004, although Liu says he started the idea in 1998.
Through the years, Liu has become an important player in the e-commerce sector in the world for his determination in making products accessible to consumers in the shortest time possible. Richard Liu was born into a humble family. His parents owned a small coal shipping business and therefore had nothing to offer him in terms of supporting his ambitions financially. All he received from them was the encouragement to work hard and pursue his dreams to the end. Looking back, he is proud of the experiences he went through since they shaped the person he is today. He grew up knowing that no one would pamper him with a good life if he failed to live to his dream of becoming a successful business person.
Richard Liu Qiangdong reveals that his first interests in business came while he was in university. He set up a small restaurant business. Although it later failed since he lacked sufficient time to manage it, he learned vital lessons that he applied when he started JingDong. While in college, Richard Liu realized that he had to do something that would make him unique from others. He started arming himself with tech skills that he would depend on after completing studies. In 1998, he created his first retail business that had stores in Beijing. In five years, he had managed to grow the presence of this business significantly by opening 12 stores. The stores were selling computer accessories.