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

 

Ever Wondered What GreenSky Credit Is? Let’s Learn About The Program And Its Founder, GreenSky LLC

Financial technology, better known as fintech or sometimes called FinTech, is the ever-growing brand of technology that strives to make the field of financial services easier, faster, more efficient, and more effective for consumers, businesses, and even financial institutions. Examples of financial technology’s many innovations include mobile apps used by banks for consumers to take care of banking on the go, digital currency and cryptocurrency wallets, and being able to trade instruments without the use of traditional brokers.

Atlanta, Georgia’s very own GreenSky is one of fintech’s greatest figures

GreenSky – its legal name is GreenSky LLC – is a leader in the world of financial technology. The company was created in 2006 by David Zalik, who currently serves GreenSky and the broader world of fintech as GreenSky’s chief executive officer, a lifelong entrepreneur who entered college at the early age of 14 and founded MicroTech Information Systems while attending Auburn University during his freshman year.

Statistics indicate that GreenSky is one of the largest companies to offer small to mid-sized loans to customers across the United States through innovative mediums like the World Wide Web and mobile apps available on all major smartphone app networks (e.g. iOS, Android).

What does GreenSky do?

We’ve already mentioned that David Zalik’s GreenSky offers loans to customers around the nation, but it doesn’t do so in a traditional way. GreenSky offers loans to customers around the nation through GreenSky Credit, the company’s lending program.

GreenSky Credit is available through GreenSky’s official website and its mobile application, available on both iOS and Android app networks. First-time applicants can simply take pictures of necessary documents using their smartphones, rather than being required to bring physical, original copies of things like their Social Security cards, driver’s licenses, birth certificates, and financial statements for their businesses that such financing might fund.

GreenSky Credit makes loans between $1,000 and $55,000 to individuals and businesses in all 50 states of the United States. GreenSky – thanks to the success experienced by GreenSky Credit – offers its stock to the public via major stock exchanges in the United States.

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GreenSky Credit Owns Nothing Physical While Turning Huge Profits

It’s important to own nothing if you want to be a billionaire. You don’t want your company to be mired by inventory, depreciation, loss or damages. You want to make money while owning nothing physical that can wear down, break, be stolen or lost. It’s a difficult idea that has been mastered by David Zalik and his company GreenSky Credit.

Humble Beginnings

You can read about David Zalik’s incredible story on Wikipedia or in Forbes Magazine. The guy never technically graduated from high school or college because he was advanced to Auburn University at the age of 14. At Auburn, he built computers from scratch and sold them to students. He rolled those profits into other companies before coming up with his GreenSky Credit idea that had him dropping out of college.

Ridiculously Simple

David Zalik’s GreenSky Credit idea connects homeowners to contractors for home improvements. It is a smartphone app that homeowners can use to procure a loan for home improvements which fuels more work for contractors. The app only approves those with great FICO credit scores. GreenSky Credit then takes these loan applications to a bank.

The bank funds the loan which means they take on all responsibility for the loan. In exchange for the loan, GreenSky Credit receives 1% of the spreadsheet annually. Contractors also cut the Fintech company 6% of each loan amount.

GreenSky Credit Own Nothing Physical

The Fintech company makes a ton of profit without any liability or ownership. The only thing that the company owns is the transaction itself. The bank owns the loan and all of its responsibilities while the contractors own all the inventory. After all, home improvements need to be performed with tools and supplies.

David Zalik has amassed a $2.5 billion fortune while owning nothing but a smartphone app. He’s the ultimate American middleman and it doesn’t seem to be slowing down anytime soon. If you want to make $1 billion just look at what this math prodigy has done in the world of financial tech. He owns nothing but profits off everything.

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