While onstage at the most recent annual World Economic Forum in Davos-Klosters, Switzerland, Chinese Billionaire, Richard Liu Quiangdong was put on the hot seat. David M. Rubenstein, the co-founder of the Carlyle Group, interviewed this Asian giant.

Liu is considered as among the top entrepreneurs in the e-commerce industry. After launching his first online retail website sometime in 2004, he founded JD.com only a year later. Richard Liu is the owner, founder, and chairman of the multibillion-dollar corporation, JD.com. It is currently China’s biggest retailer, which dominates both the online platform and in-store market.

Richard Liu built JD.com with his blood, sweat, and tears for his grandmother, who was sick in the Jiangsu province where he grew up. They had no money for her treatment, so he worked really hard to succeed in business. He struggled with a few setbacks like the closing of his restaurant.

When he opened the first JD.com, it was a small mall store called Jing Dong, selling tech products. Richard Liu was happy he was able to expand rapidly to 12 stores. But his dream was shattered when the SARS virus infiltrated the country. No one wanted to go out, so he was forced to close all his shops.

Stuck with so much merchandise, Richard Liu Quiangdong decided to open JD.com, where he sold his wares online. This was in the early 2000s when the internet was still new. David Rubenstein asked Richard Liu where he got the Jing Dong name, and the Chinese businessman gave a nervous laugh replying he hoped his wife wasn’t there to hear the answer. Refer to This Article for related information.

As it happens, the name comes from the combination of his first love’s name, Jing, and his own name, Dong. Now, an international brand that is being publicly traded in NASDAQ, Richard Liu’s plans for JD.com is continued global expansion. Richard Liu is a true entrepreneurial genius and recognizes the power in of broadening his horizons.

Source article: https://en.everybodywiki.com/Richard_Liu

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The prestigious Fortune Magazine included Richard Liu Quiangdong as number 48 in their list of the world’s greatest leaders.

This is no mean feat and this Chinese billionaire certainly belongs to the list as Richard revolutionized and continues to revolutionize the retail industry in China by leveraging on technological breakthroughs and supply chain innovations.

Because of his hard work, the JD brand is now public at NASDAQ, and to this day, the company still serves as the number one retailer, for both offline and online, in China.

Richard Liu’s inspiring tale to reach the top has made him a favorite speaker in different conventions around the globe. Recently, he was a keynote speaker in the World Economic forum in Davos, where he shared about his journey, including his struggles, to inspire others to pursue the difficult but rewarding path of entrepreneurship. His JD brand is now a billion dollar corporation that he built from the ground up, with his bare hands.

This huge conglomerate started as a humble retail store in Beijing called JingDong. Richard Liu Quiangdong expanded this business to twelve other sites in various key cities. However, the company’s growth was stalled because of the SARS virus. Back then, no one ventured out for fear of catching the fatal illness.

As a result, Richard Liu had to make the heartbreaking decision to close all his shops. His sadness, however, did not last when he saw that the internet, which was then at its infancy stage, could be used as platform to sell his goods. This gave birth to JD.com, which to this day continues to capture the biggest market share of clients in China; and soon, the rest of the world. Get Additional Information Here.

Visit his  channel on https://www.youtube.com/watch?v=ISIOui1oLS