Richard Liu is the Chief Executive Officer and founder of JD.com, the leading e-commerce platform retailer in China. Currently, JD.com has a net worth of $ 58 billion. Richard Liu was born in Suqian, Jiangsu province in 1973, in a modest family background. Richard Liu acquired his first degree in sociology from the Renmin University of China. During his free time at the university, Liu Qiangdong had a great passion for computers. His love enabled him to enhance his skills in computer programming, especially in coding work. He later attained an EMBA from China Europe International Business School.
After two years of a successful career with Japan Life, a company which dealt with health products, Richard Liu quit employment and started a business in Beijing. His venture, Jingdong, sold magneto-optical products and within six years, Richard Liu had seen the company grow to more than 12 stores. Later in 2004, he changed the business model to establish the current JD.com.
As an aggressive entrepreneur, Richard Liu has seen the company flourish to be a market giant in China. JD.com has also partnered with other companies to cement its authority in the Chinese and global market. Notable partners include leading brands like Walmart, which has recently increased its shareholding to 12 percent. Others include the fashion guru, Farfetch, which has over $397 million worth of investment in the company.
In the recent world economic forum, held in Davos, Switzerland, Richard Liu expressed his desire to offer the logistics business at JD.com to the public. The logistics business is currently wholly owned by the company. The JD.com founder hinted that they have not decided on the countries to list their stock, but they are most likely to do it in mainland China or Hong Kong. The move follows JD’s listing on the American depository shares in it is Group Company on the Nasdaq, in 2014.
Liu Qiangdong also added that the company has kicked off a fundraising round at its logistics company, targeting to collect more than $2 billion. Sequoia Capital and Hillhouse Capital Group have shown interest as lead investors in the venture.