JD.com is the highest-valued retailer in China. It is a joint venture between JD holdings and Suning. It initially acquired a 41% stake in JD.com for $2 billion back in 2009, when it paid its estimated IPO valuation of $12 billion with its share of payment alone. The parent company has generated annual revenue of $101.3 billion with a net profit of $3.64 billion. He is a search engine for products, and its main competitor, Alibaba, is a payment platform that provides practically all other services in China. Both companies have been posting positive earnings over the years, increasing their market share and expanding their business globally with investments and strategic partnerships worldwide.
JD.com recap_2 Achievements
1.He has acquired 10,000 technology start-ups since it was founded in April 2011. It has also developed a search engine that is capable of processing over 10 billion queries per day and utilizes artificial intelligence technology.He has developed an automated warehouse assistant to deal with the growing number of products that its customers are ordering on its platform.He has expanded into physical stores located in China and Asia to better serve their customers in a variety of ways such as providing delivery outside of city limits and providing customer service via chatbots.
- Liu Qiangdong, the founder of JD.com, is a Chinese billionaire and one of the wealthiest people in China. His net worth increased by $5 billion in 2017 to $18.3 billion. Liu Qiangdong net worth is close to $18.3 billion. He was not an English major in college, so the company’s goal was to create the world’s largest platform for retail commerce. They are targeting the Chinese market. However, they have also started expanding internationally. Liu Qiangdong’s son was arrested in March 2017 for allegedly stealing funds from the company and Suning, which he owned with his brother.
3.He is the largest eCommerce platform in China, with over 200 million active monthly users. They launched a mobile payment system in 2016, using Alipay, their payment platform, which holds a 42% market share of all eCommerce transactions in China. It makes JD.com’s payment system more secure and accessible than any invasive forms of electronic payment that non-members could implement.
4.He has focused on artificial intelligence by building a team of over 500 members to focus on the use of AI in their network and company. It includes chatbots to talk with customers through messenger platforms like Facebook, WeChat, etc. Their chatbots can respond to customers’ questions about products by sending images, videos, or other information about the product. The chatbot also uses natural language processing techniques to understand customer requests and artificially intelligent recommendation systems for products. These features improve the customer experience and allow him to talk to its customers 24 hours a day, seven days a week, without employing additional staff.
- JD Group has been providing cheap goods and services to millions of poor people in China since its inception. They have supported local charities by donating different kinds of goods such as electronics, food, clothing, carpets, and many other products that help those less fortunate than them.
It has constantly been growing and focusing on improving the quality of service to its customers. They have partnered with other companies like Amazon. The latter provides business space in their warehouses, while they have also partnered with Hewlett Packard by providing the servers needed to run their website. These partnerships help JD.
