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Wednesday, 18 June 2014

Billionaire JD.com founder lines up next challenge: beating Alibaba

Liu, CEO and founder of JD.com, smiles before ringing the opening bell at the NASDAQ Market Site building in New York By Paul Carsten BEIJING (Reuters) - With an iron grip, JD.com Inc founder Richard Liu has dragged China's number two online retailer from a Beijing backwater to a rich New York listing. Beyond the wealth that brought him lies Liu's next target - beating Jack Ma's Alibaba. If that causes corporate governance concerns, it makes his resolve to take on his biggest competitor, the Alibaba Group Holding Ltd [IPO-ALIB.N] e-commerce juggernaut co-founded by Ma, all the more personal. "He has this ambition to win... He says there's only number one, there's no number two," said Kathy Xu, founder and managing partner of Capital Today Group.








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