Richard Liu Qiangdong is the CEO and founder of JD.com, which is among the largest e-commerce businesses in China. The company was born in 2004 after the SARS epidemic hit China and preventing employees of various companies from getting out of their homes. At the time, Richard Liu owned a company Jingdong which was concerned with selling computer equipment. He, therefore, developed JD.com where he sold his computer equipment’s online. Currently, JD.com owns assets worth $11 billion. During Davos-Klosters’s interview with Richard Liu Qiangdong at the World Economic Forum Annual Meeting, he provided facts that enabled him to shape his business and become a successful entrepreneur. At the interview, he explained how the name “JD.com” was formed. He claimed that the name was formed after combining his first name and the last name of his wife.
During the interview, he talked about how he began developing his entrepreneurial skills in 1998. He stated that while at the University, he realized that his degree in sociology would not help him get a good paying job which made him focus his attention on computer programming through freelancing. After his graduation, he worked at various companies such as a health product company and Japan Life as a director of computers. Richard Liu also spoke of the business transport that his parents were involved and how they were still poor.
Through his earning while at the University as a freelancer, he opened a restaurant which failed because he devoted less of his time to it. He stated that he needed to earn more money to help his sick grandmother receive quality treatment. In 1998 be started another business that sold computer equipment, and because of the SARS outbreak, he ventured into online business because the outbreak it made it dangerous to have a face to face conversation with customers. In the interview, Richard Liu stated that when he compared data obtained from offline and online business, online business was more efficient and it offered customers with greater satisfaction. He also started selling cell phones, IT products, and digital products.