Richard Liu Qiangdong is on a Journey to Make JD.com the Largest E-commerce Platform in the World

Richard Liu Qiangdong, the owner of JD.com, started off his career trying out his hand on a catering business. He started a restaurant which failed because he was too busy with his studies in college. The renowned entrepreneur has come a long way to become a billionaire owning one of the largest e-commerce platforms in China.

In 1998, the father of two children started a computer parts business. The decision to venture into business was informed by his financial challenges. His grandmother got sick and he was unable to further his studies abroad because of the financial challenges. The business flourished to expand to 12 shops until the sars epidemic hit it hard.

He closed down the business and in 2004, he ventured into e-commerce. The e-commerce market was still ‘chaotic’ full of counterfeit products. He decided to work with authenticated products only and issue proper invoices. The businessman knew e-commerce will be the future of retail business. The logistics costs in e-commerce are low and it provides great user experience to customers.

The platform started with electronics before it brought on board other goods. Currently, the platform has over 1 billion products and by 2010, they had almost everything on stock. According to Richard Liu Qiangdong, the top-selling products in the platform are fast-moving consumer goods.

Richard Liu has become popular not only in China, but also some other parts of the world. His company has permeated the China market. Customers can get products within 6 hours of ordering. However, in Beijing, it only takes 3 hours for JD.com to deliver products to customers.

Richard Liu has huge plans for JD.com. He plans to extend the business to South Asia, Middle East and the United States. According to Mr. Qiangdong, it is going to be the largest online shopping platform in the world in a few years. The business is now worth over US$60 billion and Richard Liu’s net worth is US$10 billion.

The entrepreneur said that wealth comes with a sense of responsibility. He believes that how you use the wealth is what is important. The JD.com owner values his family so much. He considers it his greatest achievement. He is always striving to be the best husband, father and son. Click here

 

Digital Finance: PSI Pay and Other Emerging Forms of Electronic Money

With the advent of the marine trade in the ancient market, the number of different types of currencies in circulation was challenging as transactions grew unreliable and frequent. The process of transferring these currencies resulted in difficulties and increase of the counterfeit cash.

 

The origins of the current banking models grew out of the merchants looking to solve these difficulties. Through a rudimentary technique of exchange and currency trade, merchants and pawnbrokers came up with cashless payment techniques derived from credit. Here are the emerging forms of electronic money in the digital finance world.

 

Modern Banks

 

These financial institutions have been characterized as operating within a risk management business. As most individuals entrust their assets and earnings to banks, they secure the property and the funds at interest rates that are beneficial to private individuals while simultaneously providing loans to other clients with an interest rate.

 

According to financial institutions, currency is grouped into three main categories of various intrinsic values. Commodity cash comprises of the services and goods, as well as other precious stones and metals like diamonds and gold. The representative cash includes bank notes that verify the ownership of various commodities that have been kept in the bank. The fiat money represents the cash that individuals in the current or the modern world use.

 

Crowdfunding

 

Crowdfunding institutions such as Indiegogo, GoFundMe, and Kickstarter circumvent third parties or customers by facilitating various transactions from many people to single entities with an as-yet-funded project. The projects range from video games and movies and entire start-up enterprises to an individual’s bereavement and medical funds. This technology is about the power of individuals to invest in the ideas they believe in while reducing the loss or damages they would encounter in the event of the unfolded projects.

 

Cryptocurrency

 

Most of the cryptocurrencies such as Bitcoin exist basically as codes that no government or bank controls or creates. Essentially, Bitcoin and the other forms of cryptocurrencies function like speculative investments. The blockchain is a network by which various cryptocurrencies operate a faster Transactive platform for facilitating transactions. A record or ledger of each transaction is stored across a massive system of computers.

 

Also, there are other modern payment technologies such as PayPal and E-money services like the PSI Pay that provide the most secure transaction means of accessing money or funds in a centralized computer system. PSI Pay offers digital payment services to individuals and firms across the world.

 

 

 

https://www.zoominfo.com/c/psi-pay-ltd/347918387

Whitney Wolfe Opens up about Bumble’s Conflict with Match

Whitney Wolfe’s Bumble is one of the leading dating apps around the world. Unique from its competitors, the app does not only focus on dating, but it also centres on empowering women, networking, as well as friend finding. As of 2018, Bumble had 41 million users.

Despite the vast achievements, Whitney Wolfe confides that Bumble has had its fair share of challenges. In March 2018, Match accused Ms. Wolfe’s company of infringing its intellectual rights. The allegations sparked a court battle between the two large dating sites.

But, is it true that Bumble infringed Match’s intellectual rights? In a recent interview, Whitney Wolfe said that her company had not violated Match’s trade secrets. According to her, Match raised the allegations as propaganda to help it acquire Bumble at a low offer.

Were Whitney Wolfe and her partners planning to sell Bumble?

During the interview, Ms. Wolfe confessed that they were looking forward to selling the dating app to a buyer who will be willing to continue empowering women.

Besides empowering women, Ms. Wolfe and her partners were looking for a buyer who could extend Bumble’s boundaries to every corner of the world. However, the CEO pronounced that they had turned down Match’s offer.

A Spotlight on Whitney Wolfe’s Professional Career

Whitney Herd Wolfe started her career after graduating from Southern Methodist University. She partnered with Patrick Aufdenkamp to establish Help Us Project, a not for profit organization. Besides managing the charity, Ms. Wolfe supported multiple orphanages operating in South East Asia. Tinder and Bumble Are Seriously at War

At her 22nd birthday, she joined Hatch Labs and the group that funded start-ups with a promising future. In 2012, she collaborated with Chris Gulczynski and Sean Rad to cofound the famous Tinder dating app. Ms. Wolfe served as its senior marketing manager. She grew its client base to tens of millions. Billion-Dollar Bumble: How Whitney Wolfe Herd Built America’s Fastest-Growing Dating App

In 2014, she left Tinder to start her venture. In the same year, Wolfe teamed up with Andrey Andreev, Badoo’s principal to cofound Bumble. The site attracted millions of users within a year. In 2016, it was recognized as one of the leading dating and networking sites around the world. Bumble Founder Whitney Wolfe’s Whirlwind Wedding Was a True Celebration of Southern Italy