The San Francisco-headquartered DNA testing company said it filed for Chapter 11 bankruptcy and plans to initiate a sale of the business. Anne Wojcicki also stepped down as chief executive, but will remain on the board. She said in a post on X she will be an independent bidder for 23andMe. (The Logic)
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The San Francisco-headquartered DNA testing company said it filed for Chapter 11 bankruptcy and plans to initiate a sale of the business. Anne Wojcicki also stepped down as chief executive, but will remain on the board. She said in a post on X she will be an independent bidder for 23andMe. (The Logic)
Talking point: 23andMe is still dealing with the fallout from a cyberattack in 2023 that compromised the data of around 6.9 million users. The incident led to the filing of over 50 class-action and state-court lawsuits, according to court documents. In June 2024, Canada’s privacy commissioner Philippe Dufresne and his U.K. counterpart John Edwards said they were jointly looking into the hack. Once valued at US$6 billion, the genetics-testing company’s market capitalization has since cratered to about US$20 million. “We have had many successes but I equally take accountability for the challenges we have today,” Wojcicki wrote.
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