Jack Ma Ventures: Alibaba’s founder, Jack Ma, has taken on a new role as the owner of “Ma’s Kitchen,” endorsing a recently established startup named “Hangzhou Ma’s Kitchen Food.” Public records reveal its incorporation in Hangzhou, Ma’s hometown and the headquarters of Alibaba. The venture will focus on pre-packaged food, imports and exports, and “edible agricultural products.”
“Ma’s Kitchen” boasts a registered capital of 10 million yuan ($1.4 million), owned entirely by Hangzhou Dajingtou No. 22 Arts and Culture, with Jack Ma holding 99.9% ownership. While specifics about the business model and food offerings are undisclosed, there’s speculation about Ma tapping into China’s growing market for ready-made meals.
China’s market for ready meals reached about 71.1 billion yuan ($9.9 billion) in 2022, witnessing a 28% increase from 2018, according to Euromonitor International. The demand for meal kits, requiring simple assembly or cooking, tripled from 2018 to 2022, reaching 29.1 billion yuan ($4 billion).
Despite uncertainties about Ma’s venture, experts see significant potential for innovation in the packaged meals space. Ben Cavender, managing director of China Market Research Group, notes that packaged meals are gaining popularity due to changing consumer habits during the pandemic, where people opt for convenient options due to time constraints and economic factors.
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Whether the focus is on ready-made meals or sales of fresh foods, Ma’s ties to e-commerce are seen as valuable. Alibaba’s founder, known for his entrepreneurial success since founding the company in 1999, maintains a low profile since stepping down as chairman in 2019. This move into the food industry aligns with evolving consumer preferences and economic trends, presenting an opportunity for Ma’s continued impact.
Our Reader’s Queries
What are the business ventures of Jack Ma?
For over 20 years, Ma has been at the helm of Alibaba Group, a leading high-tech holding company in China. As the executive chairman, he has overseen nine major subsidiaries including Alibaba.com, Taobao Marketplace, Tmall, and Alibaba Cloud Computing. With his leadership, the company has remained at the forefront of innovation and technology in China. Other subsidiaries under his guidance include eTao, Juhuasuan, and 1688.com.
Does Jack Ma still own Alibaba?
Despite stepping down as Alibaba chairman in 2019, Ma still holds a significant stake in the company through his family trust. It’s worth noting that the South China Morning Post (SCMP) is also owned by Alibaba.
What did Jack Ma do before Alibaba?
Jack Ma, a former English teacher, co-founded Alibaba Group in 1999, which has now become one of the largest e-commerce businesses in the world. However, the former high-flying billionaire stepped down from his position as Alibaba’s executive chairman in 2019.
What store does Jack Ma own?
Meet Jack Ma, the co-founder of Alibaba Group, a tech conglomerate that has taken the world by storm. As a global ambassador for Chinese business, he has invested in a number of tech and e-commerce firms, including Lazada, YCloset, Tokopedia, Shiji, Intime Retail Group, and Ordre. With his entrepreneurial spirit and dedication to innovation, Jack has built his company from the ground up and continues to make waves in the industry. His success is a testament to the power of hard work and determination.