Richard Liu Qiangdong is a Chinese entrepreneur and founder of JD.com. He is also the CEO of JD.com, China’s second-largest e-commerce website after Alibaba Group. He is known as the ‘Amazon of China’.
The company started by selling electronics and computer parts to students and teachers at college campuses across China via a website named “JD” and its mobile apps. JD later became the largest online retailer in China, with a market share of 42 percent among Chinese online shoppers and 91 percent among Chinese web users who made purchases from websites other than Taobao or Alibaba Group’s Tmall site during the first quarter of 2014. By 2015, JD had become the largest e-commerce platform in China by total revenue and number of active buyers on its platform (1 billion).
- Future Plans
The company plans to expand its retail business, with plans for an offline store in Shanghai and investing $15 billion in China’s e-commerce market over the next five years. The company has also been expanding its services and products, such as JD Finance (payments), JD Logistics (fulfillment), JD Medical (healthcare), and other services and products.
He has built several schools and hospitals, including the Qiangdong Children’s Hospital. He has also built a huge library in the city of Hangzhou. During the covid 19 period, he has donated more than $100 million to the city of Hong Kong. The company’s JD Global Vision Fund was established to provide a sustainable funding source for social entrepreneurs, social enterprises, and other non-profit organizations in China. The fund has invested in various organizations, including the education charity Ivy Academy and the legal services provider China Social Lawyer’s Association.
Richard has been a great example of a successful entrepreneur. He has created an e-commerce company, which has been able to invest in other businesses and foundations. This gives his company a very diversified portfolio and is also a great example of how he can use his resources for good causes and his benefit.