Larry Liu, the Founder and CEO of Weee!, shares his incredible journey from being an electrical engineering student in Shanghai to leading a multi-billion-dollar online Asian grocery platform. He discusses how his early e-commerce ventures and the cultural challenges of sourcing familiar foods in the U.S. inspired his business model. From navigating group purchasing to pivoting to direct delivery, Larry reflects on the lessons learned through financial setbacks and the importance of community in his entrepreneurial success.
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question_answer ANECDOTE
Early E-commerce Experience
Larry Liu, while in college, sold used electronics on Eachnet, a Chinese eBay equivalent.
This experience sparked his interest in e-commerce.
question_answer ANECDOTE
Moving to the US
In 2003, Larry moved to Folsom, California, to work for Intel.
He found the transition challenging due to cultural differences and limited access to familiar foods.
question_answer ANECDOTE
eBay Arbitrage
To supplement his income, Larry started selling goods on eBay, capitalizing on price differences between Costco and eBay.
He became a top seller, receiving a plaque from eBay.
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If you told 19-year-old Larry Liu that his hobby re-selling used electronics “for fun” would someday help him build a multi-billion-dollar company, he probably would have laughed. He was an electrical engineering student in Shanghai at the time. His goals were to land a corporate job and go to grad school in the U.S. He did both, starting with a job at Intel. But his passion for e-commerce stayed with him through his MBA and other corporate jobs. And when he moved to Northern California, Larry noticed other Chinese immigrants using WeChat to source what they needed locally - even organizing in groups to buy familiar foods and products. Larry immediately saw this as a business opportunity. And in under ten years, after facing down bankruptcy and re-orienting his business, Larry grew his e-commerce platform Weee! into a company now valued at over $4 billion.
This episode was produced by Kerry Thompson with music composed by Ramtin Arablouei.
It was edited by Andrea Bruce with research help from Katherine Sypher.
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