Looking Into The Life Of Richard Liu

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Richard Liu Qiangdong founded Jingdong in June 1998 in Beijing. When it was first established, Jingdong was a storefront that specialized in the distribution of magneto-optical products. In the first few years of operation, the company enjoyed significant success expanding to 12 chain stores in Beijing, parts of Shanghai, and Shenyang within five years. Within the same time, the company generated close to 9 million US Dollars in annual revenue. After seeing how successful e-commerce had been at the time, Richard Liu decided to start an online version of the company in early 2004.

Qiangdong started a national logistics system to handle the significant increase in the popularity of the company throughout the country in 2007. During the early years of the business, you realize that most logistics firms across China could not manage deliveries in every part of the country.

Most people in rural areas had to travel to the nearest towns to purchase the products they desire, which increased the prices in the small cities. Having earmarked it was an investment opportunity, Liu Qiangdong decided to create a national logistics system to ensure that none of the products were lost or damaged during the delivery process.

There were 3210 delivery and pick up the points Catherine close to two-thirds of the country by the end of 2014. Amazon copied the model, stopped working with third-party logistics companies, and started making the last-mile delivery on its own in the US markets. Visit This Page for more information.

JD.com has quickly become the biggest online direct sales company in China if transaction volumes are anything to go by. In 2014, the company into it over 50% of market share and went on to be listed on NASDAQ in May the same year. In 2016, JD.com became the first internet company based in China to break into the Fortune 500 companies list. It is now the third-largest internet company across the world and the largest retailers across China based on revenue.

 

Follow Liu Qiangdong on https://twitter.com/liu_qiangdong

 

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