Founder of JD.com, Richard Liu

Richard Liu was born in China, and his parents were coal shippers. He studied in China and then attended Renmin University where he studied sociology and then graduated in 1996. However, his passion had always been towards coding and programming which he had been freelancing during his free time while he was still on the campus. His skills got him a job at a Japanese company where he was put in charge of the computer systems in the company. Richard Liu was wise enough, and he had been saving up over the years of his formal employment.

When the entrepreneurial wave struck, Richard Liu was more than eager to be part of it, and he quit his formal job. He then used the money that he had been saving up as his starting capital while opening a shop that mainly sold magneto-optic products. He named the shop Jingdong featuring his then-girlfriend. His business picked up quite well, and within two years he had already opened up other outlets within China. The, however, hit rock bottom when there was an epidemic that made people stay indoors for fear of contracting the disease.

At this point, Richard Liu needed to come up with a solution because his business was crumbling down and he immediately thought of how technology would help him get his business back. He, therefore, devised a system where he could contact his clients, and they would make online purchases without the dreaded hustle of them coming out of their houses. Richard Liu created a website, JD.com, which people would now make their purchases. He was, however, a bit skeptical at first about the whole idea of online business, but the odds worked for him. JD.com is now the second largest online retailer in China, competing against the famous Alibaba which has been in existence for the longest time. In 2014, JD.com structured up its mission and vision and also it became the first Chinese online retailer to trade on NASDAQ publicly. The company is still managed by Richard Liu and is set for an expansion into other continents.