Here’s more on JD.com (because we LOVE scandals)
Trending on Weibo… which is China’s ‘Twitter’ so-to-speak where users are spreading CEO Richard Liu’s mugshot around like wildfire. Apparently, founding a multi-billion dollar company makes you very well-known in China, like a celebrity of some sort. In most other markets, this news would be uninteresting at best.
What makes JD.com so special… compared to its other competitors like Alibaba? Well, for one, the company vows to sell only authentic goods through its platform, and knock-off goods represent a significant problem that has plagued Chinese rivals for quite some time. JD.com is also freaky fast and delivers 90% of products within the first or second day they are ordered (remind you of anyone?).
From humble beginnings… which included Liu dreaming of eating meat because his family was so poor, they could only eat pork once or twice a year. When the future-CEO got into Renmin University, a high-ranking university in Beijing, his village donated 76 eggs and 500 yuan to send him there. Now, $7 billion later, is eating well and [allegedly] breakin’ all the rules!