JD.com vs Rakuten: Founders, CEOs and History
JD.com was founded in 1998 by Richard Liu Qiangdong and is led by Sandy Xu Ran. Rakuten was founded in 1997 by Hiroshi Mikitani and is led by Hiroshi Mikitani.
Company facts
Founders
JD.com
Richard Liu Qiangdong
Richard Liu Qiangdong founded JD.com in Beijing in June 1998 as Jingdong, a small counter in the Zhongguancun electronics market selling magneto-optical drives. He built a reputation for genuine products in a market known for fakes.
Rakuten
Hiroshi Mikitani
Hiroshi Mikitani founded Rakuten in 1997 after leaving the Industrial Bank of Japan, and has led it as chairman and CEO since.
CEOs and their tenures
JD.com
- Richard Liu1998–2022
Founder, Chairman and Chief Executive Officer
He built JD.com around its own logistics network and listed it on Nasdaq in 2014. He handed the chief executive role to Xu Lei in April 2022 and remained chairman.
Source - Xu Lei2022–2023
CEO
Xu played a critical role in establishing the '618' mid-year shopping festival into China's second-largest nationwide retail event.
Source - Sandy Xu Ran2023–present
CEO
A former PwC audit partner who joined JD as CFO in 2018, Xu has run JD with a focus on cost discipline and shareholder returns, while backing big new bets in food delivery and Europe.
Source
Rakuten
- Hiroshi Mikitani1997–present
Founder, Chairman & Chief Executive Officer
Founded Rakuten in 1997 and still leads it as chairman and CEO. Built Ichiba, expanded into card, banking and brokerage, mandated English internally in 2010, and launched Rakuten Mobile.
Source - Masatada Kobayashi1997–2024
Co-Founder
Masatada Kobayashi co-founded Rakuten alongside Hiroshi Mikitani. He was instrumental in establishing the early technical and operational framework of the Rakuten Ichiba marketplace, laying the groundwork for its expansion into a global internet services ecosy…
Source
Timeline: JD.com and Rakuten side by side
1997Rakuten
MDM, Inc. (Rakuten) Founded by Hiroshi Mikitani in Tokyo
Launched Rakuten Ichiba online shopping mall with 13 merchants and 5 employees.
1998JD.com
Richard Liu Qiangdong founds Jingdong Century in a 4-square-meter stall in Beijing's Zhongguancun.
2000Rakuten
Initial Public Offering on JASDAQ
Listed publicly in Tokyo, fueling rapid e-commerce and digital service expansion.
2003JD.com
SARS epidemic closes physical shops; Liu begins selling electronic components online.
2004JD.com
Permanently shuts physical retail stalls to launch e-commerce website jdlaser.com.
2004Rakuten
Launch of Professional Baseball Team (Tohoku Rakuten Golden Eagles)
Became the first new NPB baseball franchise in 50 years, establishing national brand trust.
2005Rakuten
Entry into FinTech with Rakuten Card & Bank Acquisitions
Acquired credit card and banking operations, creating the financial engine of the Rakuten Ecosystem.
2007JD.com
Raises $10 million from Capital Today; takes radical strategic decision to build in-house JD Logistics.
2010JD.com
Launches the 618 Mid-Year Shopping Festival, transforming it into a nationwide commercial event.
2010Rakuten
Pioneered 'Englishnization' Corporate Language Mandate
Made English the official internal working language of Rakuten, attracting global engineering talent.
2010Rakuten
Buy.com Acquired
Rakuten bought the US online retailer Buy.com in 2010 for about $250 million.
2011Rakuten
Acquired Kobo Inc.
Rakuten acquired Kobo Inc. for $315 million.
2014JD.com
Lists on NASDAQ (JD), raising about $1.78 billion, after Tencent takes a strategic stake and links JD to WeChat.
2014Rakuten
Viber and Ebates Acquired
Rakuten bought the messaging app Viber for about $900 million and the cashback site Ebates for about $1 billion in 2014.
2016JD.com
Forms strategic alliance with Walmart, taking over Yihaodian in exchange for JD shares.
2020JD.com
Completes secondary listing on Hong Kong Stock Exchange (9618); spins off JD Health in $3.5B IPO.
2020Rakuten
Commercial Launch of Rakuten Mobile Open RAN Network
Launched the world's first fully virtualized cloud-native 4G/5G mobile telecommunications network.
2021JD.com
JD Logistics completes separate $3.2 billion IPO on the Hong Kong Stock Exchange (2618).
2022JD.com
JD Logistics acquires a controlling stake in Deppon Logistics; Xu Lei becomes CEO as Richard Liu stays Chairman.
2023JD.com
CFO Sandy Xu Ran becomes CEO in May 2023.
2024JD.com
Walmart sells its entire JD.com stake in August 2024.
2024Rakuten
Rollout of Platinum Band (700 MHz) & Rakuten Symphony Expansion
Commercialized sub-1 GHz frequencies in Japan and expanded global Open RAN software exports.
2025JD.com
Launches JD Food Delivery; makes a tender offer for Ceconomy (MediaMarkt, Saturn); revenue reaches ~$182 billion (RMB1,309.1 billion).
2025Rakuten
FY2025 Revenue Reaches ¥2.50 Trillion
All three segments grew, lifting revenue 9.5% to ~$16.7 billion (¥2,496.6 billion).
2026JD.com
Q2 revenue falls 2.9% while non-GAAP profit rises 20.8%; Ceconomy deal wins conditional German approval.
2026Rakuten
First Quarterly Net Profit Since 2020 and Fintech Reorganization
Q2 2026 net income of ~$182 million (¥27.2 billion) on record revenue of ~$4.46 billion (¥665.5 billion); Rakuten Card and Rakuten Securities Holdings move under a new Rakuten Bank group in October 2026.
Acquisitions
JD.com
- Ceconomy AG2025Undisclosed
- Deppon Logistics2022$1.4B
- China Logistics Property Holdings (CNLP)2022Undisclosed
- Yihaodian2016Undisclosed
Rakuten
- Ebates (Rakuten Rewards)2014$1B
- Viber Media2014$900M
- Kobo Inc.2011$315M
Questions about JD.com vs Rakuten
Who is the CEO of JD.com and Rakuten?
JD.com is led by Sandy Xu Ran and Rakuten is led by Hiroshi Mikitani. Both serve as the top executive responsible for the company's strategy, operations, and financial performance.
When was JD.com founded vs Rakuten?
Rakuten was founded in 1997 — 1 year before JD.com, which was founded in 1998. Rakuten's longer operating history gives it a deeper track record but also potentially more institutional inertia compared to the younger JD.com.
How many employees does JD.com have compared to Rakuten?
JD.com employs approximately 776,682 people, while Rakuten employs approximately 33,000. JD.com has the larger workforce at 776,682 employees, compared to Rakuten's 33,000. A higher headcount does not necessarily imply greater efficiency — it often reflects differences in business model (e.g., manufacturing vs. software).
Where are JD.com and Rakuten headquartered?
JD.com is headquartered in China and Rakuten is headquartered in Japan. Their different home markets mean they may face different regulatory frameworks, tax regimes, and currency exposure.
Who founded JD.com and Rakuten?
JD.com was founded by Richard Liu Qiangdong. Rakuten was founded by Hiroshi Mikitani.
Which company has a longer operating history — JD.com or Rakuten?
Rakuten has been operating for approximately 29 years, making it the more established of the two companies. JD.com has been in operation for around 28 years. A longer operating history often signals greater institutional resilience and brand recognition, though it can also mean slower adaptation to new market conditions.
Figures come from each company's filings and the sources linked beside them. Amounts reported in another currency are shown in US dollars at an approximate rate and marked with ~. Back to the JD.com vs Rakuten overview