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

18
Jun
2014

By Paul Carsten BEIJING (Reuters) – With an iron grip, JD.com Inc founder Richard Liu has dragged Chinas number two online retailer from a Beijing backwater to a rich New York listing. Beyond the wealth that brought him lies Lius next target – beating Jack Mas 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 theres only number one, theres no number two, said Kathy Xu, founder and managing partner of Capital Today Group.

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