Many companies that grow to be great start humble. It is the vision and the determination to pursue their goals that drives them to greatness. This is the case with JD.com, China’s most profitable internet company which was founded by billionaire-entrepreneur, Richard Liu Qiangdong, two decades ago in 1998. At the time, Richard Liu Qiangdong was a little-known and humble entrepreneur.
Armed with the passion and determination to revolutionize the e-commerce business, Richard Liu would build JD.com, which today is China’s largest retailer and most profitable internet company. According to Forbes, Jingdong commands a market worth of $57 billion and is also one of the most popular companies in China.
In an interview at the World Economic Forum held in Dallas on January 2018, Richard Liu awed a fascinated audience, detailing his story leading to the foundation of JD.com. According to Richard Liu, he was born from a humble but business-minded family, which operated a struggling transport company.
However, Richard Liu Qiangdong says that the struggles of their family company taught him a lot about business. As a young adult, Richard Liu picked interest in politics and went on to study Sociology at the Renmin University of China, where he completed his degree in 1996. See This Page for related information.
It was while still at college, that Richard Liu would venture into business by opening a restaurant. However, he did not dedicate enough time to his restaurant and, consequently, the business took a nose dive and he was forced to shut it down. According to Richard Liu Qiangdong, this experience taught him a lot about business, and he still applies the lessons in the day to day running of JD.com.
After acquiring his Sociology degree, Richard Liu was in for a rude shock after realizing that the profession would not pay him the big bucks. Resultantly, Richard Liu decided to teach himself programming and landed some coding projects that paid him a decent amount.
This enabled him to enroll for an EMBA program at the China Europe International Business School. After getting his EMBA, he would land a lucrative job at Japan Life, a prosperous health product company. Richard Liu Qiangdong worked at different capacities, including the head of business and head of computers, before leaving, after two years, to start Jingdong.