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JD.com is a Chinese retailer and logistics operator founded in 1998 by Richard Liu, which moved online in 2004 and built its business on first-party inventory rather than a pure marketplace model. Unlike its peers it owns most of the goods it sells and runs its own nationwide warehouse and delivery network, which gives it tight control over authenticity and same-day or next-day fulfilment for hundreds of millions of customers. The group has expanded into logistics services for third parties, healthcare, industrial supply, cloud computing and consumer finance, and is listed in both New York and Hong Kong.