Core Insights - 23andMe cofounder Linda Avey expressed disappointment over the company's decline and criticized former CEO Anne Wojcicki for her leadership decisions, particularly after Avey's departure in 2009 [1][2] - The company filed for Chapter 11 bankruptcy protection and announced Wojcicki's resignation, marking a significant turning point for the biotech firm [1][8] - Avey highlighted the potential of 23andMe to become a leading digital health platform, emphasizing the importance of consumer-focused product development and proper governance [2][4] Company Background - 23andMe was founded nearly twenty years ago, specializing in direct-to-consumer DNA test kits and genetic research [1] - The company has built one of the largest genetic data collections globally, with over 14 million consumers engaged [2] Leadership and Governance Issues - Avey criticized the lack of board governance after her departure, stating that Wojcicki's control led to a decline in the company's strategic direction [2][4] - The independent directors of 23andMe's board resigned in 2024, indicating disagreements on the company's future strategy [7] Financial and Operational Challenges - 23andMe has faced significant operational challenges, including a restructuring that resulted in a 40% staff layoff and the cessation of its therapeutics program [8] - The company is currently seeking a buyer through a court-supervised sale process to address its financial difficulties [10] Data Privacy Concerns - The company has been plagued by privacy issues, including a data breach affecting nearly 7 million users, which led to a $30 million settlement [6] - Consumer concerns over data security have intensified, particularly following Wojcicki's consideration of third-party takeover proposals [8]

Core Points - 23andMe has received court approval for its first day motions related to its voluntary Chapter 11 petitions filed on March 23, 2025, allowing the company to pay employee wages and benefits, compensate vendors, and enter into a $35 million debtor-in-possession financing facility from JMB Capital Partners [1][2] - The company is committed to maintaining its consumer privacy policies and has not altered its management of customer data during the bankruptcy proceedings [2] - The court has authorized 23andMe to initiate a process to sell substantially all of its assets, with bidding procedures approved, requiring potential buyers to comply with the company's consumer privacy policy [3][4] - A 45-day process will follow the petition date for soliciting qualified bids, with any sale involving customer data subject to court approval and regulatory oversight [4] - A second day hearing is scheduled for April 22 to consider additional requested relief, including approval of the DIP facility [5] Company Information - 23andMe is a leading human genetics and biotechnology company focused on consumer healthcare [8]

23andMe co-founder Linda Avey took to social media on Wednesday to express frustration about the fate of the once-thriving genetics testing company that spiraled into Chapter 11 bankruptcy protection this week.Avey helped launch 23andMe in 2006 alongside Paul Cusenza and Anne Wojcicki, who resigned as CEO on Friday. The company went mainstream thanks to its popular at-home DNA testing kits, but struggled in recent years to generate recurring revenue, stand up viable therapeutics and research businesses and ...

BOSTON, March 26, 2025 (GLOBE NEWSWIRE) -- DeleteMe, a leading online privacy service, is offering vital assistance to individuals concerned about their personal data remaining on 23andMe’s platform as the company faces financial challenges. With news that 23andMe has filed for bankruptcy, DeleteMe is stepping in to ensure users can quickly and effectively remove their sensitive genetic data from the service. Lack of transparency over 23andMe's DNA data-privacy controls has been a longstanding public concer ...

Core Points - 23andMe has filed for Chapter 11 bankruptcy protection, indicating that its assets, including its genetic database, will be available for sale [1] - The company continues to offer at-home DNA testing kits, providing insights into family histories and genetic profiles [1] - Privacy concerns have arisen due to a data breach in October 2023, affecting nearly 7 million customers [2] Company Actions - As part of the bankruptcy process, 23andMe aims to find a partner committed to customer data privacy, ensuring no changes in data management during the sale [2][3] - The company emphasizes its commitment to user privacy and transparency regarding data management in any potential transaction [3] Consumer Advisory - California Attorney General has issued a consumer alert, advising customers to consider deleting their genetic data from 23andMe [3][4] - Experts recommend consumers be cautious and consider deleting their information, highlighting the sensitivity of genetic data [5] Data Deletion Process - 23andMe allows customers to delete their accounts and associated data, ensuring that personal information will not be used in future research [6][7]

Genetic testing company 23andMe is seeking a new owner as part of its Chapter 11 bankruptcy protection proceedings. The company emphasized that any potential buyer must ensure the protection of its data. However, an industry expert noted that data collected by the company has "always been at risk." The company filed for Chapter 11 in the U.S. Bankruptcy Court for the Eastern District of Missouri on Sunday to facilitate a sale process to maximize the value of its business. The company expects the process wil ...

In March 2025, the company filed for Chapter 11 bankruptcy protection. 23andMe will continue operating while it seeks a buyer."After a thorough evaluation of strategic alternatives, we have determined that a court-supervised sale process is the best path forward to maximize the value of the business," chair Mark Jensen said in a press release. It will "advance our efforts to address the operational and financial challenges we face, including further cost reductions and the resolution of legal and leasehold ...

CEO Anne Wojcicki wanted to take 23andMe private 23andMe cofounder Anne Wojcicki. Kimberly White / Getty Images Despite operating for nearly two decades without turning a profit, 23andMe went public in 2021 and reached a $6 billion valuation. The stock price collapsed more recently, leaving the company with a market value of less than $50 million.In July 2024 Wojcicki, the CEO and cofounder, proposed taking 23andMe private, but a special board committee rejected the proposal five days later.The sp ...

Anne Wojcicki, co-founder and chief executive officer of 23andme Inc., during the South by Southwest (SXSW) festival in Austin, Texas, US, on Friday, March 10, 2023.Embattled genetic testing company 23andMe, once valued at $6 billion, filed for Chapter 11 bankruptcy protection in Missouri federal court on Sunday night.The company's CEO, Anne Wojcicki, has resigned from her role as chief executive effective immediately, though she will remain a member of the board. Joseph Selsavage, 23andMe's chief financial ...

DNA and genetic testing firm 23andMe is in turmoil following a 2023 data breach and its ongoing financial decline. The once-pioneering giant now faces an uncertain future as bankruptcy looms over the company, intensifying concerns about what might happen to the genetic data of 23andMe’s some 15 million customers.Best known for its saliva-based test kits that offer a glimpse into a person’s genetic ancestry, 23andMe has seen its value plummet more than 99% from its $6 billion peak since going public in early ...