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DNA testing firm 23andMe files for bankruptcy as demand dries up
invite response
2025 Mar 24, 7:41am 164 views 4 comments
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1
zzyzzx
2025 Mar 27, 6:57am
zzyzzx
2025 Mar 27, 6:57am
https://finance.yahoo.com/news/bankrupt-23andme-dna-data-gets-223106622.html
Bankrupt genetic testing firm 23andMe Holding Co. won permission from a judge to try to sell information about customers’ medical and ancestry-related data, a trove that is considered the most valuable asset in the insolvency case — and has become a source of privacy and safety concerns amid the company’s collapse.
Bankrupt genetic testing firm 23andMe Holding Co. won permission from a judge to try to sell information about customers’ medical and ancestry-related data, a trove that is considered the most valuable asset in the insolvency case — and has become a source of privacy and safety concerns amid the company’s collapse.
2
KgK one
2025 Mar 27, 7:11am
Blackrock bought it n they will sell it to pharmas to design desease that will genocide specific races etc.
3
MolotovCocktail
2025 Mar 27, 8:23am
MolotovCocktail
2025 Mar 27, 8:23am
zzyzzx says
THIS is why I never used this type of service despite wanting to.
https://finance.yahoo.com/news/bankrupt-23andme-dna-data-gets-223106622.html
Bankrupt genetic testing firm 23andMe Holding Co. won permission from a judge to try to sell information about customers’ medical and ancestry-related data, a trove that is considered the most valuable asset in the insolvency case — and has become a source of privacy and safety concerns amid the company’s collapse.
THIS is why I never used this type of service despite wanting to.
4
Blue
2025 Mar 27, 8:43am
Is this woman ex wife of google cofounder! It must be a side gig for her to spend time on and free money from husband.
23andMe on Sunday filed for bankruptcy in the U.S. after struggling with weak demand for its ancestry testing kits that once featured in Oprah Winfrey's annual list of favorite things, and following a 2023 data breach that damaged its reputation.
The company's market value peaked in 2021 at nearly $6 billion amid booming interest in DNA testing kits but demand has waned in recent years, hurting firms such as 23andMe and its Blackstone-owned rival AncestryDNA.
Sales of the consumer kits frequently picked up during holiday season, but 23andMe has struggled to retain customers mainly because people would use the kits once and see little reason to order another one.
In 2023, hackers exposed the personal data of nearly 7 million 23andMe customers over a five-month period, dealing a major blow to the company's reputation and compounding its growth problems. The breach raised alarm among customers concerned about their privacy and how DNA-testing firms handle their data.
23andMe eventually agreed late last year to a $30 million settlement in a lawsuit related to the breach.
The company's shares fell 50% to 88 cents in trading Monday after co-founder Anne Wojcicki, who made multiple failed takeover bids, resigned as CEO. She will be replaced by Chief Financial Officer Joe Selsavage on an interim basis.
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