How Richard Liu Qiangdong Gained His Reputation As A Business Mogul
Fueled by his ambitious disposition, Richard Liu Qiangdong embarked on numerous ventures following his college career. Liu Qiandong attended the illustrious Renmin University of China, subsequently graduating with a degree in sociology. During this juncture, Richard Liu Qiandong developed a vast skill set ranging from freelance coding to computer programming. Liu Qiangdong’s ability to digest the seemingly inscrutable dynamics of computer science enabled him to thrive in a digital capacity. While getting his foot in the door, Richard Liu Qiangdong took a job at JapanLife. This corporation promised ample opportunity, and Richard Liu Qiangdong quickly graduated to executive positions.
Two short years later, Richard Liu Qiangdong acted on his urge to pursue entrepreneurial endeavors. Before too long, Liu Qiangdong founded Jingdong, a Beijing-based shop offering magneto-optical products. Liu dedicated much of his time to fostering the growth of Jingdong, eventually expanding to 12 stores throughout China. Cut to 2003, and the SARS outbreak rendered Liu Qiangdong’s enterprise unprofitable. With no patrons or staff in his shop, Liu Qiangdong was forced to rework his business model. As a result, JD.com born. This e-commerce platform proved a suitable alternative, and Liu was even inspired to introduce electronics into his robust line of merchandise.
With JD.com steadily evolving, Richard Liu Qiangdong felt assured enough to cease the Jingdong business. Regarding recent developments, WeChat, a renowned Chinese multimedia software, acquired 15 percent of JD.com for a whopping $215 million. Liu Qiangdong agreed to the deal under one exception: WeChat regularly promote JD.com via their social networks. Given the billions of hits WeChat amasses a month, this was undoubtedly a sage business move on Liu’s part. These days, JD.com works in partnership with Farfetch, an online retail platform. In essence, the two enterprises combine forces to expand their influence throughout the Chinese market.