JD.com is one of China’s largest e-commerce platforms for general retail needs. The founder behind this platform is Mr. Richard Liu Qiangdong. Richard Liu has poured his heart and soul into JD.com. He sat down to an interview with Mr. Rubenstein and Weforum.org.
This interview was an opportunity for him to discuss the motivation behind his success with JD.com, where you went wrong with past successes, and how that informed his decisions in this endeavor. At this time, JD.com is valued as one of the leading retail businesses in China. They are worth almost a staggering $60 billion. It is a truly monumental feat that Richard Liu is accomplished with the business thus far.
The motivation behind JD.com was to create a retail environment that made the customer confident in their products. JD.com only previews the most desired and quality products. Some of the reason behind this is because Richard Liu learned early on in his career that business professionals should put a substantial amount of time into their ventures. As a student, he started his own restaurant. The restaurant failed, and Richard Liu explains to his interviewer that he believed it was because he did not put in the necessary time. He corrected that mistake when he began JD.com. See This Page for more information.
JD.com started as a brick-and-mortar location dubbed Jingdong Mall but found success when they started their online business in 2004. This is a reaction to a SARS outbreak. The management for Jingdong Mall thought that an online presence would be more conducive to the environment. They switch their focus and started working in the online community. This proved to be a very good move. Richard Liu Quiangdong tells Mr. Rubenstein that the business took off from there. The company remains at the top of the retail market.
Liu Quiagndong hopes that they will shift into the global market soon. JD.com offers a variety of products over many different facets of the retail industry. This is one of the ways that he believes they will be competitive with businesses like Amazon.com. Richard Liu believes that a lot of his success has come from his ability to prioritize and grow the business.
More about Quiangdong on https://www.crunchbase.com/person/qiangdong-liu