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Jack Ma's New Venture: Pre-Packaged Food & Agriculture

Updated: Jan 5

Jack Ma, co-founder of Alibaba, has embarked on a new venture in the pre-packaged food industry, signaling his focus on agriculture since leaving the e-commerce giant.

Food
Credit: Shutterstock

The venture, named "Hangzhou Ma's Kitchen Food," has been established in Alibaba's hometown of Hangzhou, China. The company, with registered capital of 10 million yuan (US$1.4 million), is wholly owned by Hangzhou Dajingtou No 22 Arts and Culture, another venture of Ma's.


The scope of the business includes the sale of pre-packaged food and the processing and retail of edible agricultural products. Jason Pau, executive director of international programs at the Jack Ma Foundation, is listed as the executive director and general manager of the new company. Ma's latest venture is seen as a move into the ready-meals industry, which has experienced significant growth in China due to lifestyle changes during the pandemic.


However, it is important to note that the company's references to pre-packaged food do not necessarily mean pre-cooked meals. The domestic ready-meals industry in China is expected to reach sales of approximately 510 billion yuan this year, with the potential to double in the next three years. Since stepping down as Alibaba chairman in 2019, Ma has shifted his focus to agriculture and education.


This new venture is part of his broader bet on agriculture, which includes other incorporated entities such as the fishery and agricultural start-up called "1.8 Metres Marine Technology."


Ma's influence over Alibaba remains significant, and he has plans to sell Alibaba shares to support his agricultural technology and philanthropy initiatives. However, a plunge in the stock price has caused him to delay the sale. Despite this, Ma has expressed confidence in the company and has not sold any shares yet, stating that the stock is currently undervalued.

 
  • Jack Ma has started a new venture called "Hangzhou Ma's Kitchen Food" in the pre-packaged food industry.

  • The company is owned by Hangzhou Dajingtou No 22 Arts and Culture, another venture of Ma's.

  • The business includes the sale of pre-packaged food and the processing and retail of edible agricultural products.

Source: SCMP

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