Richard Liu grew in a small village called Chang’an. Although his parents came from wealthy Chinese merchants, the city lacked recent amenities such as water and electricity. By the time Richard was born, the family had lost everything and worked as rice farmers. Richard Liu founded JD.com, previously known as Jingdong and 360buy Ltd. He has been the chairman and chief executive of the company since 2004. He studied at Renmin University, where he did a degree in sociology. Richard also taught himself computer programs in addition to his classes. While at university, he saved some money to buy a computer and a cell phone.
Richard also opened a restaurant near the university gate. He was determined to run a business. Thus, he decided to start JD after a few years. Later in 1996, he graduated from Renmin University and completed the EMBA program at a business school, China Europe International. He wanted to further his education.
Richard Liu worked for a large pharmaceutical company in Japan Life, where he became Director of Computers and Services. In June 1998, Liu registered for business and established Jingdong as a small stall in Zhongguancun. Other firms next to him at the tech bazaar sold cheap and low-quality goods. Liu did not allow customers to negotiate his products even though they were of high quality. His commitment to the company led to the company growing first in the first few years. Refer to this page for additional information
The electronic shop acted as the beginning of Liu’s business even though it was closed in 2003. Several industries were forced to close during the year, including Liu’s, due to the SARS epidemic. Richard saw the situation as a chance to develop his firm, and he started posting his products on online advertising boards.