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Ma had maintained a low profile, withdrawing from public view for two years while his companies faced substantial financial losses

Alibaba's Jack Ma ventures into food industry, launches ready-made food firm

<h2>Ma maintained a low profile, withdrawing from public view for two years while his companies faced substantial financial losses</h2>

Jack Ma, who is known as the poster boy for China's tech industry has ventured into the food industry by establishing a new company, "Hangzhou Ma's Kitchen Food," focused on selling prepackaged meals and engaging in the processing and retail of agricultural products.
The company, inaugurated in Hangzhou, China, where Alibaba is headquartered, was registered with a capitalization of 10 million yuan ($1.39 million), according to Qichacha, a corporate data provider.
Founder of Alibaba Group Holding, Ma's interest in this sector appears to have surged following government scrutiny of his businesses starting in 2020 after a critical speech about China's financial-regulatory system. Subsequently, Ma had maintained a low profile, withdrawing from public view for two years while his companies faced substantial financial losses.
Also read/watch - <a title="Jack Ma puts off plans to sell Alibaba shares after stock plunges&nbsp;" href="https://www.editorji.com/business-news/markets/jack-ma-puts-off-plans-to-sell-alibaba-shares-after-stock-plunges-1700811441121">Jack Ma puts off plans to sell Alibaba shares after stock plunges&nbsp;</a>
During this time, Ma reportedly explored agriculture technology globally. He was seen in Spain, Japan, the Netherlands, and Thailand studying agrotech and environmental issues related to agriculture.
In May, he was announced to take up a teaching position at Tokyo College, focusing on research in sustainable agriculture and food production.
Despite stepping down from Alibaba's board in 2020, Ma remains influential within the company and holds partnerships. His recent move into the food industry reflects his continued involvement in business and technology, expanding his interests beyond the tech sphere.

Daniel Zhang's departure as the Chairman and CEO of Alibaba group comes months after Alibaba announced hat the company would split into six business groups

Chinese tech giant Alibaba names next CEO, Chairman

Daniel Zhang's departure as the Chairman and CEO of Alibaba group comes months after Alibaba announced hat the company would split into six business groups

Chinese tech giant Alibaba on Tuesday announced its succession plans. E-commerce executive Eddie Yongming Wu will replace the current chairman and CEO Daniel Zhang as the CEO of the company. Meanwhile, Executive Vice Chairman Joseph Tsai will succeed Zhang as the Chairman.
Zhang said in a statement it was "the right time" for him to step down as the firm looks to implement a full spin-off of its advanced cloud computing unit.
Hangzhou-based Alibaba is one of China's most prominent technology firms, with business operations spanning cloud computing, e-commerce, logistics, media and entertainment, and artificial intelligence.
Following the executive transition, Zhang will continue to serve as chairman and CEO of Alibaba Cloud Intelligence Group, the company said.
The firm has faced several unprecedented headwinds in recent years as Beijing imposed tighter restrictions on the domestic tech sector.
Alibaba said in late March that it would split into six business groups in one of the most significant overhauls of a leading Chinese tech firm to date.

Alibaba plans to lay off employees ahead of its IPO listing to raise funds, the layoff will impact about 7% of its workforce

Layoff 2023: Ahead of its IPO, Alibaba's cloud division to layoff employees 

Alibaba plans to lay off employees ahead of its IPO listing to raise funds, the layoff will impact about 7% of its workforce

The cloud branch of Alibaba Group Holding, which offers online computing and storage services, is reducing its workforce. The most recent round of layoffs will impact about 7% of the workers who work in the cloud unit. The action is being taken as the business simplifies its operations ahead of an Initial Public Offering (IPO).
The cloud unit has begun providing severance compensation to affected staff as part of the restructuring process.&nbsp;
The Chinese IT giant recently revealed its plans to list IPO of four of its business units and generate money for them, including its logistics division, Cainiao.
Following a two-year regulatory onslaught on China's technology sector, the business plans to segment itself into six independent units.
Revenue for Alibaba's cloud business was $2.69 billion in the last quarter. However, this data indicates a 2% decrease from the same time previous year.
&nbsp;

Paytm&nbsp;will seek shareholder nod for it's IPO&nbsp;on July 12 as per reports. The payment merchant Paytm&nbsp;is looking to raise Rs 12000 cr which would make it India's largest IPO&nbsp;ever.Paytm, formally called One97 Communications, is also likely at it's EGM&nbsp;decide if founder and chief executive Vijay Shekhar Sharma can be declassified&nbsp;as the&nbsp;promoter. This move will ease the obligations on Vijay&nbsp;Shekhar&nbsp;Sharma&nbsp;who currently holds only 15% in the company.&nbsp;Alibaba's Ant Group holds the most stake at 29.71%.&nbsp;In the market for unlisted shares, Paytm&nbsp;share prices soared to as high as Rs 30,000/share before the company announced a bonus bringing it the price to Rs 3,000/share which would be more appealing to retail investors as per reports.&nbsp;But Paytm&nbsp;isn't the only startup&nbsp;lining up for Dalal&nbsp;Street, there a rush for startup&nbsp;IPOs&nbsp;on the anvil. Read also -: Zomato, Nkyaa, Delhivery, Paytm: The IPO&nbsp;choices

Paytm IPO: Board to meet on July 12 to finalise $1.6 bn IPO

Paytm&nbsp;will seek shareholder nod for it's IPO&nbsp;on July 12 , the payment merchant is looking to raise Rs 12000 cr which would make it India's largest IPO&nbsp;ever.

Paytm&nbsp;will seek shareholder nod for it's IPO&nbsp;on July 12 as per reports. The payment merchant Paytm&nbsp;is looking to raise Rs 12000 cr which would make it India's largest IPO&nbsp;ever. Paytm, formally called One97 Communications, is also likely at it's EGM&nbsp;decide if founder and chief executive Vijay Shekhar Sharma can be declassified&nbsp;as the&nbsp;promoter. This move will ease the obligations on Vijay&nbsp;Shekhar&nbsp;Sharma&nbsp;who currently holds only 15% in the company.&nbsp;Alibaba's Ant Group holds the most stake at 29.71%.&nbsp; In the market for unlisted shares, Paytm&nbsp;share prices soared to as high as Rs 30,000/share before the company announced a bonus bringing it the price to Rs 3,000/share which would be more appealing to retail investors as per reports.&nbsp; But Paytm&nbsp;isn't the only startup&nbsp;lining up for Dalal&nbsp;Street, there a rush for startup&nbsp;IPOs&nbsp;on the anvil. Read also -: <a href="https://www.editorji.com/story/startup-ipo-rush-nykaa-zomato-paytm-delhivery-1623220694070">Zomato, Nkyaa, Delhivery, Paytm: The IPO&nbsp;choices</a>

China's State Administration for Market Regulation has fined Jack Ma's Alibaba a record of&nbsp;8.23 billion yuan ($2.78 billion) for&nbsp;for abusing market dominant position. China's market regulator has also demanded Alibaba&nbsp;"stop illegal activities."The record fine is equivalent to 4% of 2019's total domestic sales for the e-commerce company.&nbsp;Chinese regulators said it abused its dominance to punish merchants who sold goods on rival platforms

China fines Alibaba $2.8 billion after an anti-monopoly probe into the company 

China's State Administration for Market Regulation has fined Jack Ma's Alibaba a record of&nbsp;8.23 billion yuan ($2.78 billion) for&nbsp;for abusing market dominant position.&nbsp;

<ul>
<li>China market regulator fines Alibaba&nbsp;record $2.78 billion&nbsp;</li>
<li>China's market regulator demands Alibaba&nbsp;to&nbsp;"stop illegal activities."</li>
<li>Alibaba&nbsp;fine = 4% 2019 domestic sale</li>
</ul>

China's State Administration for Market Regulation has fined Jack Ma's Alibaba a record of&nbsp;8.23 billion yuan ($2.78 billion) for&nbsp;for abusing market dominant position. China's market regulator has also demanded Alibaba&nbsp;"stop illegal activities." The record fine is equivalent to 4% of 2019's total domestic sales for the e-commerce company.&nbsp; Chinese regulators said it abused its dominance to punish merchants who sold goods on rival platforms.

Chinese&nbsp;President Xi Jinping&nbsp;has called&nbsp;for a crackdown on tech companies and Jack Ma's Alibaba and encrypted messaging system Signal are feeling the heat.&nbsp;
Alibaba&rsquo;s&nbsp;UC browser has been removed from app stores operated by Huawei and Xiaomi. But the wrath is not targeted only towards Jack Ma, 100 million Chinese users of messaging system Signal were unable to connect to the service since March 16 morning.&nbsp;
Minutes of the Communist party leadership meeting stated&nbsp;&ldquo;Some platform companies are growing in an inappropriate manner and therefore bear risks.&nbsp;Regulators will &ldquo;step up&rdquo; efforts to improve the regulation of China&rsquo;s big internet companies."&nbsp;

China cracks down on tech, Alibaba browser & Signal disconnected 

Chinese President calls for stricter crackdown on tech companies. Internet companies in the mainland block out Alibaba's&nbsp;browser, Signal app also blocked.&nbsp;

Chinese&nbsp;President Xi Jinping&nbsp;has called&nbsp;for a crackdown on tech companies and Jack Ma's Alibaba and encrypted messaging system Signal are feeling the heat.&nbsp;
Alibaba&rsquo;s&nbsp;UC browser has been removed from app stores operated by Huawei and Xiaomi. But the wrath is not targeted only towards Jack Ma, 100 million Chinese users of messaging system Signal were unable to connect to the service since March 16 morning.&nbsp;

Chinese&nbsp;President Xi Jinping&nbsp;has called&nbsp;for a crackdown on tech companies and Jack Ma's Alibaba and encrypted messaging system Signal are feeling the heat.&nbsp;
Alibaba&rsquo;s&nbsp;UC browser has been removed from app stores operated by Huawei and Xiaomi. But the wrath is not targeted only towards Jack Ma, 100 million Chinese users of messaging system Signal were unable to connect to the service since March 16 morning.&nbsp;
Minutes of the Communist party leadership meeting stated&nbsp;&ldquo;Some platform companies are growing in an inappropriate manner and therefore bear risks.&nbsp;Regulators will &ldquo;step up&rdquo; efforts to improve the regulation of China&rsquo;s big internet companies."&nbsp;

Chinese billionaire and Alibaba&nbsp;founder Jack Ma is reportedly missing for almost two months after getting into conflict with the Chinese authorities, as some speculate.&nbsp;The business tycoon was set to appear as a judge in the final episode of his own talent show, &lsquo;Africa&rsquo;s Business Heroes&rsquo;, but mysteriously did not turn up.
Jack Ma's Ant Group has been under the scanner of the Chinese government ever since the billionaire businessman delivered a speech on October 24 slamming China&rsquo;s regulation system.&nbsp;An anti-monopoly investigation was also launched by China against Alibaba in December.
It should be noted that Ma&rsquo;s last tweet was on October 10, 2020.

Is Chinese billionaire Jack Ma missing?

Chinese billionaire and Alibaba&nbsp;founder Jack Ma is reportedly missing for almost two months after getting into conflict with the Chinese authorities

Chinese billionaire Jack Ma is missing?

Chinese billionaire and Alibaba&nbsp;founder Jack Ma is reportedly missing for almost two months after getting into conflict with the Chinese authorities, some reports have speculated.&nbsp;The business tycoon was set to appear as a judge in the final episode of his own talent show, &lsquo;Africa&rsquo;s Business Heroes&rsquo;, but mysteriously did not turn up.
Jack Ma's Ant Group has been under the scanner of the Chinese government ever since the billionaire businessman delivered a speech on October 24 slamming China&rsquo;s regulation system.&nbsp;An anti-monopoly investigation was also launched by China against Alibaba in December.
It should be noted that Ma&rsquo;s last tweet was on October 10, 2020.

'Lone Wolf' pips Jack Ma to become China's richest

Nicknamed &ldquo;Lone Wolf&rdquo; for his eschewing of politics and clubby business groups, Chinese vaccine tycoon&nbsp;Zhong's fortune has jumped $51.9 billion in 2020

A bottled-water and vaccine tycoon has become China's wealthiest person surpassing Alibaba's Jack Ma, who held the spot till now. Zhong Shanshan's net worth reached $58.7 billion on Wednesday, $2 billion more than Jack Ma's, according to the Bloomberg Billionaires Index. Zhong is now Asia's second-richest person, behind India's Mukesh Ambani, and is the 17th wealthiest in the world. Nicknamed &ldquo;Lone Wolf&rdquo; for his eschewing of politics and clubby business groups, Zhong's fortune has jumped $51.9 billion in 2020.

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