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