The 2018 World Economic Forum Annual Meeting was an event that people all over the world were eagerly waiting for, especially with the impressive line up of entrepreneurs and business people who were set to share their thoughts on this platform. One of the people invited to this forum was Richard Liu, the founder of JD.com. At the forum, Richard Liu used the platform to inspire others who were looking to get into the world of e-commerce. As someone who has been a major part of this medium, he stated the importance of e-commerce and the potential growth that it will be seeing over the next few years.
In this interview, he spoke about the changing global standings and the impact that different developments were having across sectors. He emphasized the growth of this industry and the need for economic prosperity in this matter. He also stated how changing political scenarios across the world are having an impact on global economies and industries that are looking to set up. Richard Liu, also known as Lui Liu Qiangdong is someone who has had an inspiring story that led him to the prominent position that he is in. When in university, Richard Liu decided to teach himself to code, even though it was not something related to the subject of sociology, which was what he chooses as his major.
After working with notable companies after college, he decided to start up his own business. Back then, the Chinese market was filled with stores offering fakes of products that were in demand. Richard Liu decided that he would set up a store that sold only genuine products, and nothing else. The SARS Epidemic of 2004 was what caused Richard Liu to change his business model. During this time, he and his employees had to work from home, thereby giving him the idea for an e-commerce platform that would do what his store was already doing. Within a short span of time, Richard Liu was up building JD.com, which stands as one of the most notable names within the Chinese e-commerce industry.
HGGC published news about two promotions and six team additions after the period where they’ve been the most active last year that included 16 add-on transactions, seven platform investments and five liquidity events.
This top middle-market private equity company expanded its execution and sourcing abilities across the company with the following additions:
Dan Stanko as an investment Principal for HGGC
Bennett Nussbaum as an Executive Director with an extensive background in operating
“We are delighted to reveal these and other team additions as well a few well-earned promotions for Matt Roesch and Bill Conrad,” Rich Lawson, HGGC Co-Founder and Chief Executive Officer mentioned. “While we keep expanding, it’s critical that we both recognize when our homegrown talent is prospering and bring fresh members to the team with outstanding backgrounds and precious expertise. We could not be more thrilled to reveal these expansions to the team as we keep up our strong stride.”
Dan Stanko held a position as Principal at Bain Capital Private Equity previously. He was accountable for evaluating, sourcing, executing and moving value creation over established and new investments. Dan devoted almost an entire decade at Bain and concentrated on investments in a couple of primary verticals— TMT and Industrials.
Dan was one of the main contributors to the acquisitions of Viewpoint Construction Software, Bob’s Discount Furniture, Big Tex Trailers, American Trailer Works and Blue Coat Systems. Dan worked as an Analyst at Goldman, Sachs & Co’s Private Equity Group before working at Bain.
Chad Clawson served in the Operations Group at American Capital as Principal before coming to HGGC. He worked in C-suite roles at firms including Paradigm Precision, Global Conference Partners and Service Experts as his most recent position.
Bennett Nussbaum has decades of experience in executive leadership roles from well-known international companies including Kinko’s, Burger King, Billabong, Winn-Dixie Stores, PepsiCo and American Apparel. He dedicated 25 years at Pepsi-Cola International and developed into SVP and Chief Financial Officer for the company before moving into his position as SVP – International Operations Development with the same unit of business.