Richard Liu Qiangdong, the founder and CEO of JD.com, is always proud to speak about his professional journey and growth of JD.com. The company started in 2004, at a time when selling products on websites was just growing in popularity. One of the foundations of the company was family. The name for the company, JD.com, came from Richard and his wife joining their names together. She was his first girlfriend, and they just thought it up from a standpoint that they would work together and have everything together. His primary experience in business comes from working in a small company that his parents owned when he was very young.
They were selling transport and he worked alongside them. It was later that he went onto college in Beijing. Shortly after college he decided to start a restaurant. During his recent interview, Richard Liu tells how his restaurant failed and collapsed. When asked why he felt the restaurant failed, he felt that it was because he was taking classes at the same time, and trying to do both was a lot of time and effort. It was also important for the interviewer to ask Richard Liu how he got the idea for his retail business that he started after the restaurant failed.
He knew that falling back on the transport business his parents had was not an option because he saw that they were very poor as a result. He was looking for a way to start a business in a fashion that he could duplicate. One of the business models he felt that he could duplicate best was retail. There were many challenges where he grew up on starting certain types of businesses, and because of this, he discovered a way to open up shops where he was living. He opened up a dozen stores, and from there his unique idea for furthering the business and putting it online was born.