Richard Liu Qiangdong majored in sociology and was a graduate of the People’s University of China. Still, he devoted much of his time focusing on computer programming and the growth of the new internet. Liu subsequently attended the China Europe International Business School, where he earned an MBA.
Richard Liu gained meteoric wealth and immense success upon converting electronic stores to online markets. JD.com grew to become one of the top sites in the world for e-commerce. From January 2018 on, reportedly Liu’s net worth surged to $12.7 billion.
Additionally, JD.com continued to grow. Global partners with other industry leaders such as Walmart and Google propelled the momentum of JD.com. Consequently, Richard Liu is often characterized with the same importance as Jeff Bezos, Amazon’s founder and billionaire.
In 1998 Liu started his own business Jingdong, in a Beijing storefront selling magneto-optical products, including CD ROMs. Liu Qiangdong’s stores experienced rapid growth until the SARS disease slowed down his expansion plans and made vulnerable the future of Jingdong’s growth. Liu started to think about the possibility of an online business because the number of internet users was constantly growing.
The internet users grew to about 1 billion users worldwide. These deliberations led to the first iterations of JD.com.
The first sales consisted mainly of selling magneto-optical products, but this soon expanded into selling mobile phones, electronics, and other tech items in 2004.
In 2007, Richard Liu changed his company’s name to 360buy.com. In 2013 he again changed the company name to JD.com. JD.com is one of two huge retail giants in China and is a member of the Fortune Global 500. In the first quarter of 2018, the platform had 301.8 active users. Tencent, a partial owner of the company, had a 20% interest in the company.
Since its founding, JD.com has become the world’s foremost company dealing in high tech and AL distribution through the use of robots, autonomous technology, and drones. JD.com has the most extensive drone delivery system, infrastructure, and capability in the world. The first autonomous truck was introduced in 2018, joining the number of other tech companies that are trying to use self-driving cars.
The summer of 2014 saw this company begin trading on the Nasdaq. By the end of 2017, this company had more than 220 million active customers, 150,000 employees, and an estimated worth of more than $58 billion.
JD Finance, an affiliate of JD.com, established the Smart City Research Institute at its headquarters in Nanjing. A report stated that the primary focus would be on “Advanced intelligent solutions in the areas of urban environment, transportation, planning, energy consumption, commerce, security, healthcare, credit cities, and e-government.”
JD.com used blockchain technology in aspects other than supply and securities. JD.com proclaimed its beginning use of the “Blockchain-as-a-Service” platform. JD Blockchain Open Platform, the new tool, will permit businesses to build, host, and implement blockchain solutions. Refer to this page for more information.
More about Richard Liu on https://peoplepill.com/biography/richard-liu/