Richard Liu’s Registers Significant Growth Years After Its Establishment

November 4, 2021 0 Comments

  1. com is one of the renowned e-commerce websites in the world. The expansive success of the website was not a walk in the park. Richard Liu, the founder of depicts that his unending love and thrilling passion for technology resulted in him establishing the e-commerce platform. The platform initially started with the sales of magneto-optical products ranging from CD ROMs but eventually expanded to the selling of products as mobile phones, computers, electronics among other tech products. Though the platform started small, today it has the privilege to compete with prestigious websites such as Amazon. Liu also thrives in the class with the founder of Amazon, Jeff Bezos.

Richard Liu’s thrilling passion for technology was realized when he was at the People’s University of China where he pursued a degree in sociology. Liu would often sneak to learn computer programming. He would later advance his education by joining China Europe International Business School to pursue his EMBA. After finishing his EMBA, Liu sought to establish his own business. In 1998, Liu Qiangdong kick-started his career in business by selling computer accessories such as CD ROMs at a storefront in Beijing. By the year 2003, his business had rapidly grown to over 12 storefronts across shanghai and Beijing.

As fate would have it, the SARS outbreak hit china paralyzing the expansion of Liu’s business. Liu had to think fast of a quick effective way of enhancing his sales. It was after an extensive research, that Liu saw creating an online platform would help him in reaching his customers. At the time, there were almost 1 billion people worldwide who had access to the internet. This led to the birthing of in 2004. Today, has been listed as one of the B2C gigantic online retailers in China behind the famous Alibaba. The first quarter of 2018 saw the platform registering over 30 million active users.

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