23andMe’s Former CEO Is Posting Through Its Bankruptcy Filing

Genetic testing company 23andMe has filed for bankruptcy after its board rejected a bid from its CEO to take it private. Four years ago the genetic testing company was valued at $3.5 billion. Now it’ll be lucky if someone pays $50 million for it. If you haven’t done it yet, there’s never been a better time to delete your 23andMe data. The company filed for bankruptcy on Sunday after weeks of a collapsing stock price and multiple unsuccessful bids to buy the company and take it private from co-founder and former CEO Anne Wojcicki. Its board did not want Wojcick and found her bids wanting. Reuters said her last pitch was 41 cents a share to take the company private, which would have valued the company at just $11 million. She resigned as CEO after this bid failed. In 2021, Forbes declared Wojcicki America’s newest “self made billionaire” after she cut a deal with Richard Branson to launch the 23andMe IPO. Now she’s posting through the collapse of her company on X.com and trying to find ... Read full article.