What Richard Liu Qiangdong Learned From His Parents


Lui Qiangdong founded and still serves as the CEO of J.D.com the largest e-commerce business in China. Qiangdong is not precisely sure when he was born. Most likely sometime between March 1973 and February 14. His parents were hardworking employees of the coal shipping industry. He entered the adult world by obtaining a degree in sociology from Renmin University of China in 1996. While there, he also taught himself computer programming. It was also while there that he opened up a restaurant which failed in just a few months after opening. After also graduating with an EMBA from the China Europe International Business School, he got his first job with Japan Life.

During his time there he served in several different positions. His last, longest, and most important was as the director of computers. He left Japan Life in 1998 to open a store called Jingdong which specialized in selling magneto optical products. It became known for its authentic products when most Chinese technology stores just sold copies of authentic items. It soon became  popular and top successful company that in just five years it had expanded into 12 stores. But that same year, 2003, success came to an end for many Chinese companies. That is the year that the SARS outbreak forced many shoppers and store staff to stay indoors unless absolutely necessary.

As a result, many brick-and-mortar stores were forced to close completely. In 2004, Qiangdong saved his by reinventing it into an online store which eventually was rebranded as JD.com. By late 2005 all of his brick-and-mortar stores were closed. JD.com began business by selling the same computer products as the physical stores but soon started selling all manner of items. Through the years it has partnered many companies in many industries. One of its largest stakeholders is Walmart which owns about 12 percent of the company. WeChat also owns a 15 percent stake in the company. It has been public for trading on Nasdaq in the US since 2015. It is currently known as “The Amazon of China.” Today, Qiangdong himself is estimated to be his net worth about $12.7 billion.

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