Richard Liu founded JD.com in 1998. Since then, he has elevated this business to one of the world’s leading companies focused on high-tech, AI and drones. His success shows what can happen with perseverance and hard work.
In 1996, Liu graduated with a degree in sociology from the People’s University of China. However, while there, he spent most of this time learning about computer programming and the internet, which was just starting to be used by the public. Early on, Qiangdong recognized the internet’s potential and did all he could to learn more about it.
The Start of JD.com
JD.com was started as a brick-and-mortar store in Beijing in 1998. Liu Qiangdong began by selling products such as CD-ROMs. Within five years, 11 more storefronts would emerge in Beijing and Shanghai. However, his expansion plans were put on hold due to the SARS outbreak in China. While this may have been a roadblock for his business, it forced him to look to the internet for customers.
Going Online and the Power of the Internet
In 2004, JD.com was founded as Jingdong Mall, and the company started selling CD-ROMs and other magneto-optical products online. With success there, Richard Liu expanded into mobile phones, computers and other tech items. Each year after, he grew sales and revenues. In 2014, the Beijing-based company was large enough to begin trading on the NASDAQ. In 2017, JD.com had more than 150,000 employees and total revenues of about $54 million.
The Future for JD.com
Currently, JD.com is a leader in testing robotic delivery services. They have built drone delivery airports and expanded into operating driverless delivery. With Liu involved, this Fortune Global 500 company will likely continue to thrive. Read this article for more information.
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