Richard Liu is the founder and CEO of one of China’s largest e-commerce platforms JD.com. In January of 2018 Richard Liu discussed how he began selling online at the World Economic Forum Annual Meeting held in Davos, Switzerland.

After opening a brick and mortar store in Beijing he tried selling online. Richard Liu Qiangdong realized that the selling online was better in many ways. It was less expensive for him and it was a better experience for the customer. This led him to consider focusing on selling online and abandon the brick and mortar model.

When asked how many employees were a part of Richard Liu’s company, he responded there were 167,000. Richard Liu joked that he wished his wife was not in the room when explaining how JD.com was named because he named it by combining his name and the name of his former girlfriend at the time. The audience laughed at Richard Liu’s joke.

Richard spoke about the most popular items sold on JD.com. He said that in recent years the most popular items are consumer goods, food, and fashion items. Richard Liu Qiangdong explained that in China it is very common for things that are purchased on JD.com to be delivered in 6 hours and in Beijing.

Richard Liu Qiangdong spoke about his feelings about becoming wealthy. He said most of his friends are now wealthy friends. He said being wealthy is neither a burden or a joy, but a responsibility because he now has resources. He said when he goes out to eat in Davos, Switzerland he is not bothered by people as much as when he goes out to eat in China.

Richard Liu has an estimated net worth of $11 billion but in the interview he says that most of his wealth is on paper. In 2014, WeChat agreed to promote JD.com on the popular social media network.

AboutĀ Liu Qiangdong: corporate.jd.com/liu-qiangdong-jd-ceo-about