Title: Jack Ma Ventures into Agriculture: Former Alibaba Founder Invests in Agrotech Start-Up
Subtitle: After tensions with Beijing, Jack Ma takes a new direction in his career
Renowned entrepreneur and cofounder of Alibaba, Jack Ma, has made headlines once again, this time for his new investment in an agrotech company in China. Amidst his disappearance from the public eye following a critical speech in October 2020 that angered Chinese authorities, Ma has delved into the world of farming and technology.
According to a report from the South China Morning Post, Ma’s investment-holding company, Hangzhou Dajingtou No. 22 Arts and Culture Co., has acquired a 10% stake in the agrotech start-up 1.8 Meters Marine Technology (Zhejiang) Co. The company was incorporated on July 20 in Hangzhou, the same city where Alibaba is headquartered.
This venture signifies Ma’s active retirement, as he continues to explore new opportunities across various industries. Prior to this investment, Ma had taken teaching positions in Hong Kong and Tokyo, showcasing his versatility beyond the business realm.
The Chinese tech mogul’s journey into agrotech follows his controversial speech criticizing China’s financial-regulatory system in October 2020. This declaration triggered significant regulatory scrutiny of Ma’s businesses and led to a broader crackdown on technology companies within China.
During his years-long hiatus from public life, Ma used his time to travel the world and immerse himself in the study of agrotech. Reports from the SCMP indicate that Ma traveled to Spain, the Netherlands, Japan, and Thailand to gain a deeper understanding of agriculture and technology related to environmental issues.
In May of this year, Tokyo College announced that Ma would be joining their faculty, focusing his research on sustainable agriculture and food production. This announcement solidified Ma’s dedication to exploring innovative solutions within the agricultural sector.
Ma officially retired from Alibaba in 2019, shifting his attention to philanthropic endeavors through the Jack Ma Foundation. Despite his significant contributions to the field of e-commerce and technology, Ma’s new venture into agrotech demonstrates his commitment to continuous learning and making a positive impact in the world.
The Jack Ma Foundation has yet to provide a comment on the recent investment, leaving room for speculation regarding Ma’s future plans and the potential impact his involvement may have on the agrotech industry in China.
As Jack Ma reemerges from the shadows and redefines his legacy, his foray into agrotech promises to be an exciting chapter in his remarkable entrepreneurial journey.
Original Article: [Business Insider]