Why Richard Liu Qiangdong is a Good Decision-Maker

The business created by Richard Liu has undergone several name changes since its inception in 1998. The focus with the business, while the name was Jingdong, was storefronts. It started as one storefront, and it grew to 12 storefronts. Computer parts were sold. The second name change would occur and an online presence was established in 2003. The new name was 360buy. The switch to e-commerce was influenced by changing spending habits such as people began to shop more from home. An outbreak of SARs was influential to Richard Liu deciding the change to an online platform was necessary. By 2005, 360Buy would change the name to JD.com.The name change was not the only thing that would occur in 2005. All storefronts would close, and JD.com would only conduct business on an e-commerce platform.

Before Richard Liu Qiangdong accumulated $11 billion net worth and began his professional career, He was able to attend college and obtain a sociology degree from the Renmin University of China. He also was allowed to attend a graduate school which he earned an Executive MBA at China Europe International Business School. Richard Liu taught himself how to program computers, and it would prove helpful in his professional career especially at Japan Life where he became the Director of Computers.

Richard Liu has been able to attract companies such as Walmart, Google, and WeChat to make an investment in JD.com. JD.com was able to form a partnership with Walmart. Walmart increased investment by 12 percent WeChat would make 15 percent investment in JD.com. The year 2014 would be the initial public offering of JD.com in the United States on the NASDAQ Stock Exchange. It would become the first company based in China that would be traded on the NASDAQ. Richard Liu Qiangdong has provided the leadership that has allowed JD.com to have over 100 million active shoppers. He also built the largest drone leet in the world, and it is used to provide better shipping options such as next day or same-day shipping. Under his leadership, JD.com has been able to resolve some of these shipping problems. They are able to deliver everyday goods to remote villages.

Liu Qiangdong: Twitter

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