Richard Liu Qiangdong, the Chief Executive Officer and Founder of JD.com, has trained his eyes on global expansion. The CEO made the revelation during the recently concluded World Economic Forum, which was his first to attend. Richard Liu Qiangdong established the company in 2004. Since its inception, JD.com has risen to become a market leader in the global e-commerce retail industry. Currently, the company is worth $57 billion according to a recent ranking by Forbes.
According to Richard Liu Qiangdong, JD.co has embarked on substantial infrastructural investments to increase its ability to supply an expected increase in its customer base. The growth is expected after the company launches its entry into the lucrative American and European markets. According to Liu, JD has comprehensively covered Vietnam, Indonesia, and Thailand.
In preparation for the global expansion, Liu Qiangdong said that JD.com has already partnered with Walmart, a leading US online retailer. In the deal, JD agreed to buy Walmart’s online infrastructure in China. On the other hand, the Bentonville, Arkansas online retailer acquired a 12% stake in JD. Additionally, Walmart participated in a $500 million round for Dada-JD Daojia, an affiliate of JD.com. Dada-JD Daojia links a fleet of motorbike delivery staff to merchants across several Chinese cities and towns.
The announcement comes after Google secured a $550 million stake in JD.com. Speaking during the forum, Liu disclosed that the company is currently engaged in the initial strategic planning in collaboration with Google to attract customers beyond Asia. The initial plans indicate that Walmart will jointly work with JD to increase its operations in South East Asia, China, and the United States.
Speaking to CBNC News at Davos, Switzerland Richard Liu Qiangdong also disclosed that JD.con is planning to list its logistics business public. He also added that the company is mulling over the possibility of dual listing. Currently, JD.com entirely owns the subsidiary business. According to Liu, the listing is likely to happen in mainland China or Hong Kong, since JD is already listed on the Nasdaq.
Additionally, JD has launched a fundraising series at its logistics business. The series is expected to generate a total of $2 million. Already, Sequoia Capital China and Hillhouse Capital Group have expressed their interest as lead investors in the series.