Richard Liu Qiangdong Reveals Insights On Empire Building

There are many things that propel us to do or decide on something. Our present condition is the product of our decisions and the consequences that come with it. During the World Economic Forum, Richard Liu Qiangdong shared some insights on how he was able to build his empire. He also revealed his primary reason for venturing into the business world.

Richard Liu Qiangdong is currently the leader and the chief executive officer of JD.com. The company is the largest growing e-commerce business in China. During the interview, Richard revealed that it was because he needs money to pay for his sick grandmother’s treatment and hospital bills that he decided to venture into business. Unfortunately, his restaurant business failed because he barely spent time managing it.

In 1998, he decided to sell computer components and rented commercial space in Beijing in China. The business went well and he named it Jiangdong. According to him, the term was coined from her x girlfriend’s last name and his first name. Selling only genuine and exclusive products, his store achieved unprecedented growth. He expanded his store and opened 12 more stores in other places in China.

But, the growth dramatically stopped and the company experienced losses when the country was struck by SARS. People were afraid to go out to avoid getting a lethal respiratory disease. as a result, he closed down 12 stores. When he learned about the potential of the online business, he shifted from selling on physical brick and mortar stores to digital retail stores. He also changed the name of the business to JD.com.

According to Forbes, the net worth of Richard Liu Qiangdong alone is approximately $7.3 billion while the company JD.com is now worth more than $60 million. Richard also diversified the business and welcomed investors. Walmart, for instance, increased its shares to 12 percent. According to Richard; JD.com has also invested in its delivery system.97 percent of its customers received their order after 20 hours while 57 percent of its clients can receive their orders within six hours. JD.com, according to Richard Liu Qiangdong will continue to learn and conduct more research to be able to stay on top of the list and continue its growth.

Liu Qiangdong: Twitter.

HGGC: A Promising Firm That is on The Rise

About HGGC

HGGC was founded in 2007 and is located in Palo Alto, California. The founders of the firm are Bob Gay, Steve Young, Richard Lawson, and Gregory M. Benson. The firm has more than 10,000 employees. It is a top private equity firm that has a talented team of experts with many years of operational experience. The firm has made seven major investments. Its most recent investment was in FPX in 2017. The firm has also invested in Hybris, MyWebGrocer, Denodo Technologies, Integrity Marketing Group, and more. It specializes in corporate carve-outs, growth equity, recapitalizations, public to private investments, platform investments, and the reconstruction of middle market private and public companies.

The firm has raised an estimated $3.2 billion with two funds. The most recent fund was HGGC Fund III, which was announced in 2016. This fund has raised $1.8 billion. The other fund is known as HGGC Fund II LP, which was announced in 2015 and has raised an estimated $1.3 billion. The firm has acquired 14 organizations. Its latest acquisition was RPX Corporation in 2018. The RPX Corporation was acquired by the firm for $555 million. The firm has also acquired Idera Inc., HelpSystems, AIMC, Nutraceutical International, StrongView, Davies Group, and more.

In October of 2018, the firm expanded its team with the addition of six new employees. These employees specialize in operations, financial, and investment functions. The current CEO is Richard Franklin Lawson, and the chief financial officer is Lance Riley Taylor. Annie Loosie is the operations manager of HGGC, and the managing director of the firm is Steven Young.

The firm invests in companies that are in leading competitive positions. HGGC helps these companies succeed through the team’s operating skills and relationships. The firm has a total transaction value of $19 billion and $4.3 billion in cumulative commitments. The company currently has 116 portfolio investments.

https://www.pehub.com/2018/04/hggc-adds-six-new-executives/