- Jack Ma launched “Hangzhou Ma’s Kitchen Food” to sell packaged foods
- The new startup comes as Ma put his planned $870M Alibaba share sale on hold.
- Ma remains positive on Alibaba but is clearly pivoting to new ventures like packaged foods amid six breakups.
The Alibaba co-founder has incorporated “Hangzhou Ma’s Kitchen Food” in his hometown, expanding his growing portfolio of agri-tech startups.
Jack Ma’s New Venture: ‘Hangzhou Ma’s Kitchen Food
Alibaba founder Jack Ma is continuing his post-retirement pivot towards agriculture with a new company selling pre-packaged foods.
Corporate records show Ma recently established “Hangzhou Ma’s Kitchen Food” in Hangzhou, China, with plans to offer prepared meals and process agricultural goods.
The startup aligns with investor interest in China’s booming ready-meals industry, which is expected to hit $76 billion in sales by 2025.
Beyond Pre-Cooked to Packaged Offerings
While some speculated the business will sell pre-cooked offerings, sources claim it focuses on other packaged items.
Ma has immersed himself in farming technology and education after resigning as Alibaba’s chairman in 2019.
His latest food venture adds to a growing list, including a $16 million fishery and ag-tech startup he unveiled in July.
Credit: South China Morning Post Series
Jack Ma’s Agriculture Move Amid Stock Changes
The move comes shortly after Ma’s family trust announced intentions to sell $870 million worth of Alibaba shares to fund these agricultural pursuits.
But with the stock plunging on news of an IPO cancellation, Ma has held off selling for now.
Still, Alibaba says he remains positive about the company’s future despite plans to break into six business units.
Through ventures like Hangzhou Ma’s Kitchen Food, the billionaire continues to push into new terrains in the post-Alibaba era.
