Liu Qiangdong: The Chinese Jeff Bezos
Liu Qiangdong is the founder and CEO of JD.com. The company is one of the largest e-commerce platforms in the world. Owing to his business model Liu is popularly known as The Chinese Jeff Bezos. As an entrepreneur, he started a single retail store in 1998. Later in 2004, he expanded his business venture into an e-commerce store as JD.com. In 2019 Liu’s name was included in China’s Rich List. In addition, his net worth was assessed to 9 billion USD by Forbes.
Liu descends from a business background of wealthy shipowners. However, the family had to struggle when they lost everything not once but twice. They again build everything from scratch by their sheer determination and hard work. Liu inherits strong values and a positive approach from his family.
Graduating from primary school, Liu studied Sociology at the Renmin University of China. Later, he also earned an EMBA from the Chinese Europe International School.
Since childhood, Liu has cultured the value of hard work and lived a frugal life. Despite a rigorous routine in college, he worked part-time to earn his living and learned computer programming in his spare time. As a result, Liu had upgraded his computer skills which were rare in those days. It not only helped him earn decent money but also became a guiding beacon for his future ventures.
Liu started his business venture with the distribution of magneto-optical products. The main aim was to stop the counterfeit market that was booming in those days. Liu succeeded in his attempt to stop unauthorized products, but he also demonstrated his business skills. With the outbreak of SARS, Liu had to rethink his business model. The crisis gave him the opportunity and creativity to remodel the business into an e-commerce store. In 2004 Liu launched his first online retail website along with JD.com.
Today JD.com has expanded itself in varied fields of pharmaceuticals, retail, and food. The success is purely due to the relentless hard work of Liu coupled with a visionary approach and down-to-earth comradeship.