Essential Attributes That Have Facilitated Jd.Com’s Rapid Growth And Development Under Ceo Richard Liu Qiangdong

According to Forbes, Richard Liu Qiangdong is now among the wealthiest individuals, having a net worth of about $11 billion. As an entrepreneur, he’s the founder, and the CEO of JD.com – the largest provider of e-commerce services in China, with net revenue of about $60 billion. Through the support of the firm’s proficient leader, JD.com have had tremendous achievements, including the successful partnership with multinational corporates like WeChat, and Walmart.

Over the years, under the leadership of Richard Liu Qiangdong, the mighty JD.Com had experienced tremendous rapid growth, including of 2014 when it floated on NASDAQ Stock Market – the second largest stock exchange in the world which is based in the US.

Earlier this year, 2018, during the annual meeting of the World Economic Forum, Richard Liu Qiangdong was interviewed by David Rubenstein – the Co-Founder and Co-Executive chairman of the Carlyle Group, about their efforts in the transformation of the retail industry using Supply Chain Innovation. During the talk, this conscientious intellectual shared that, before he had completely shifted from physical stores to online selling, he made a comparison of the two to discern the more effective one. After comparing their production report, he noticed that with the online shop, the logistics costs were much lower and more efficient for their consumers.

When asked of how JD.com have managed its rapid development, surpassing even Dangdang Inc. which used to be the best then, Mr. Richard Liu explained that their transparency and sustainability were the key drivers of it. In emerging as the best, he had to ensure that his enterprise was authentic, and it wasn’t unethical like the existing providers, who were offering counterfeit products and cheating customers on the prices.

In essence of guaranteeing their consumers a favorable shopping experience, CEO Richard Liu Qiangdong guided his team of experts on ensuring they presented the appropriate logistics, including the issuance of genuine receipts and invoices. Get More Information Here.

While still on the talk, Liu quoted that, due to insufficient capital, JD.com was unable to satisfy all of their consumers’ interests at a go. Following their staunch commitment, and a visionary leader, however, this giant e-commerce ensured at the end of every year they added a new variety of product; and in 6 years, the firm had almost everything available.

To ensure they are the best in China, and even globally, Richard Liu Qiangdong highlighted that their key focus will be market valuation – the value they create for the society since they already have the rest of resources, including technology and finance.

 

Source Link: https://seekingalpha.com/article/4226658-jd-com-will-richard-liu-deliver-2019

An Inside View Of Liu Qiangdong

 

In a recent interview entitled “An Insight, An Idea”, Richard Liu Qiangdong spoke of his humble beginnings and shed some light on what once started as a small computer business that turned into China’s largest ecommerce website known worldwide as JD.com.

Richard Liu laughed shyly as he told the story of the name JD.com being inspired by his first love, joining together his first name and her last name. He teasingly remarked, “I wish my wife wasn’t here to hear that.”

Liu Qiangdong closed down his physical stores and started selling online in 2004. Toward the end of the second year they compared figures and realized online sales significantly increased their profit and they realized that ecommerce was the wave of the future.

What made Richard Liu so effective or unique? What made his company grow so rapidly? Liu Qiangdong states there were many knock off and counterfeits online at the time and the market was chaotic, so he made the conscious decision that they would not sell fakes. They would only sell quality products. Today his market value is $60 billion US dollars. He has over 167,000 employees, and counting. Last year alone they added 30,000 employees.

Does Richard Liu Qiangdong take his billionaire status seriously? You bet! “Being wealthy is a responsibility,” says Liu Qiangdong. “If you’re wealthy, you have resources in your hands to grow your company, grow your business and grow society as a whole.”

What gives him the greatest pride? “Family…I want to be a good son to my parents, a good husband to my wife, a good father to my daughters, a good boss to my employees, and a good partner to my business partners.”

Billionaire at 44 years old. What’s next? Liu Qiangdong says he wants to leave something to his countrymen, to instill pride, but most of all he just wants to be seen as a “good guy”. Click Here to visit their Linkedin page.

 

More about Richard Liu Qiangdong on https://www.scripps.org/physicians/18780-richard-liu?tab=overview

JD.com Uptake Of Open Source Technology

JD.com or as known by many as Jingdong Mall, has become a force to reckon with in the e-commerce industry in China. With a total user base of 2 billion, Jingdong is a leading front that continues to shape the retail market.

 

Recently, in honor of their usage and contribution towards the open source projects, Jingdong Mall was recently awarded the Top End User Award. The highly coveted award was presented to them by Cloud Native Computing Foundation.

 

About Cloud Native Computing Foundation, it ranks as the leader in the open source community which related to the Kubernetes and cloud-native software and technologies. During the firms’ conference, many technologists and the associated end users gathered for further talks on the open source project development.

 

Due to the high customer demand, Jingdong Mall processes large datasets which need to be assessed and accessible on demand. Back in 2013, the platform hosted close to two billion images to the customers. However, in 2018 there are trillions of images and this account for daily intake of 100 million daily images.

 

This fostered the collaboration with the Cloud Native Computing Foundation. The move has seen D.com run the largest Kubernetes cluster in terms of production across the world.

 

Due to the changing climate in the business environment, JD.com was able to shift early to the Kubernetes during the initial stages of conceptualization of the infrastructure with the constant growth of the clusters.

 

Years later, the relationship between JD.com and CNCF has grown tremendously while featuring some of the top developers and users. The partnership was mutually beneficial as JD.com contributed to the open source projects development while at the same time benefitting.

 

This led to JD.com becoming the first platinum end-user member with CNCF. JD.com makes use of open source development as a service strategy. This is aimed at advocating for other retailers, vendors, and partners to increase the efficiency while reducing the costs for better customer service. Go To This Page for additional information.

 

Some of the open source projects which have borne fruits for D.com include Vitess, Kubernetes, Prometheus, and CNI. JD.com has shown a commitment in contributing towards the cloud-native technologies. This has triggered JD.com to release their own internal and home-based open source projects with the aim of empowering the partners, retailers, and vendors in the community.

 

More about Jingdong Mall on https://www.chinainternetwatch.com/tag/jingdong/