Richard Liu Qiangdong, A Visionary And Aggressive Entrepreneur

Richard Liu, the founder and Chief Executive Officer of JD.com, was born in Jiangsu province in 1973. He acquired his first degree in sociology from the Renmin University of China. Later, he attained an EMBA from China Europe International Business School.

 

Richard Liu Qiangdong set his foot in business by setting up a counter store in 1998. The business involved selling of computer parts. Following the outbreak of the Severe Acute Respiratory Syndrome in China in 2003, he closed down his business and moved to online business. The change of tact led to the foundation of JD.com in 2004.

 

Richard Liu Qiangdong has seen JD.com grow to be one of the biggest e-commerce retail platforms in China based on revenue and transaction volume. Currently, JD.com has a market valuation of over US$67 billion and about 162,000 employees.

 

Richard Liu Qiangdong has excellent plans for JD.com in the coming days. Speaking during this year’s World Economic Forum meeting, which took place in Davos, Switzerland, Liu disclosed his plans to expand JD’s services to Europe and other world markets, in an interview entitled “An Insight, An Idea with Richard Liu”.

 

Richard Liu hinted that JD.com has kicked off a fundraising round at its logistics business with a target of at least $2 billion. Additionally, Chinese investment firms, Hillhouse Capital Group, and Sequoia Capital China have shown interest as lead investors. Richard Liu Qiangdong also said that the logistics business, which is wholly owned by jd.com, will go public in the overseas market, but the timeline has not been set. Refer to This Article for more information.

 

Speaking during a luncheon, which was graced by about 50 prominent business personalities and leaders of JD’s partners, Liu disclosed that the company has spun its finance business. Liu said that the business was spun off to give room for further expansion into the payments business. He also acknowledged that the move would pave the way for future public listing for JD finance. Among those in attendance included Kasper Rorsted, the Chief Executive Officer of Adidas Group and Greg Foran, the Chief of Walmart in the United States.

 

View source: https://www.wsj.com/articles/chinese-retailer-jd-com-turning-its-logistics-network-into-broader-delivery-service-1539833400