Origin of Richard Liu`s Business

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Richard Liu graduated from the University of China from where he studied Sociology followed by EMBA attained from the China Europe International Business School. During most of his time at the University in earning money through freelance coding. He was able to balance his knowledge in class with his programming skills. When Richard Liu graduated he knew that life had just begun, he secured a job in one of the health care centers in Japan where he served as the director for the business and the computers. The contract at the health center did not last long; hence Richard Liu decided to start his business selling magneto products in Beijing known as the Jingdong. The Magneto business name was created using the characters in his last name and that of his girlfriend at that time. In 2003, the Magneto products enterprise had established 12 more stores.

When the SARS outbreak struck, it became complicated to serve the customers as everyone was in fear not to contract the disease. This outbreak affected Richard Liu`s business as his customers, and staff members were forced to remain indoors. Richard Liu stayed in the company together with one of his managers. They came up with the idea of serving their clients online hence JD.com website was launched. Since 2004, Richard Liu focused on the e-commerce business. He improved the quality of the products to overcome stiff competition from other related companies such as the Alibaba and Walmart.

J.D.com has partnered with prominent companies such as the WeChat that owns about $215 million in Richard Liu`s company. This partnership has promoted the growth of J.D.com by increasing the number of active users to about a billion. J.D.com deals with a variety of products including electronics, consumer goods, and fashion.

Richard Liu strives to ensure that the company expands its services all over the globe. He has set aside the necessary resources that will enable J.D.com to acquire other businesses in other regions. Another strategy which he plans to use is by creating joint ventures with the local business persons. The main focus of J.D.com is the United States and Asia.

Follow Liu via Twitter :https://twitter.com/liu_qiangdong?lang=en