Jack Ma, the renowned founder of Alibaba Group Holding, has recently launched a brand new company that specialises in pre-packaged food. The company, inaugurated in China this Wednesday, boasts an initial capitalisation of 10 million yuan (US$1.39 million), according to an article by the international financial newspaper Nikkei Asia.

Jack Ma's latest venture into the realm of pre-packaged food comes under the moniker "Hangzhou Ma's Kitchen Food" when translated into English, as per South China Morning Post, a Hong Kong-based newspaper owned by Alibaba Group. The South China Morning Post adds that, according to details obtained from the National Enterprise Credit Information Publicity System, an authoritative business registry platform, the company has officially set its roots in Hangzhou, China - the hometown of Ma and the birthplace of his vast business empire.

Amid the ongoing challenges presented by the pandemic, Ma's venture into precooked meals aligns with the surging demand for convenient and home-delivered food options in China. The stay-at-home effect has notably influenced consumer preferences, driving a notable uptick in the popularity of pre-packaged meals.

As to what else might have influenced Ma to establish a prepackaged food company, it is speculated that he became an enthusiast of farming technology during his time abroad in places in Japan, Europe, and Southeast Asia. The report from Nikkei Asia adds that he had also visited Kindai University's aquaculture research facility in Japan. Furthermore, Ma holds a stake in an aquaculture startup through an investment vehicle, which appears to have played a pivotal role in the founding of his new food company.

Although Jack Ma officially stepped down from Alibaba's board in 2020, relinquishing day-to-day management responsibilities, he remains a significant force within the company, holding the title of an Alibaba "partner" with substantial influence. 

Total views: 417