Michael Haltman

pushing ahead

Internet retail entrepreneur Richard Liu is a globally recognized businessman because of the sheer success of his online business. Built from business failures, Richard Liu Qiangdong recognized opportunities to establish new business models and took advantage of them.

At the time he built JD.com, he had just lost his business, mostly due to the SARS crises that struck the country and online markets were just starting to become a thing.

Richard Liu decided to take his business online and sell exclusively in an online website he built and developed. From there the business grew and became one of the largest online marketplaces in the world, generating revenue only seen in similar online markets established around the world. As JD continued to grow, Chinese businesses all began using the platform to sell their goods and a huge number of users began shopping predominately on the site. Go to this page to learn more.

Since establishing the business as an online retailer, JD has evolved into so much more. Richard Liu has recognized the potential for his commerce-based business to spread into other industries. Now, Liu is building business based on everything from blockchain to transportation to security and even healthcare. The technology he has developed is able to be applied to all areas of industry has really changed the future of the company.

Based on this success, Qiangdong is a business celebrity in China and the example for so many entrepreneurs that are looking for opportunities to recreate his success. While Liu built his business at a time when online shopping was just starting to take off, it was his business skill that really proved to be one of the main factors that led to success.

 

Additional information about him, can be found on https://www.bloomberg.com/billionaires/profiles/qiangdong-liu/