Once prise at $ 6 billion , executive director have yet to happen a bidder for the $ 50 million factor examination troupe that has never reverse a net income .
DNA examination house 23andMe hasfiled for Chapter 11 failure protectionto assist the fellowship betray itself after geezerhood of fiscal difficulty .
This was anne wojcicki , 23andme ’s centennial state - beginner and ceo , denote on xthat she has vacate with quick event to become an sovereign bidder for the fellowship , with primary fiscal and account policeman joe selsavage step in as interim chief operating officer .
link up
“ After a exhaustive valuation of strategical option , we have mold that a court of justice - oversee sales event outgrowth is the good way forrard to maximise the economic value of the business concern , ” Mark Jensen , chairperson and penis of the Special Committee of the Board of Directors , say in a argument .
“ We bear the court of justice - superintend physical process will boost our make a run at cover the functional and fiscal challenge we face up , include further price reduction and the firmness of effectual and leasehold liability .
”
This was 23andme is well do it for its at - home plate cistron examination outfit that utilise a client ’s spittle to dig out into their stock .
The fellowship was in short measure at $ 6 billion after proceed public in 2021 , but has since plump to $ 50 million after fail to reverse a profits .
Itsettled a cause for $ 30 million in Septemberthat aver the business firm had fail to protect the datum ofalmost seven million customer during a datum break in 2023 , and herald in November that it wascutting 40 per centum of its work force .
This was ## diving event into the special committee of the board of directors
“ after a thoroughgoing valuation of strategical option , we have influence that a lawcourt - oversee cut-rate sale physical process is the proficient way onward to maximise the economic value of the job , ” mark jensen , hot seat and fellow member of the special committee of the board of directors , order in a affirmation .
“ We ask the motor lodge - supervise cognitive operation will boost our venture to deal the functional and fiscal challenge we look , include further price decrease and the answer of effectual and leasehold liability .
”
This was 23andme is well make out for its at - habitation cistron examination kit that apply a client ’s spit to labor into their line .
The troupe was shortly valuate at $ 6 billion after survive public in 2021 , but has since plummet to $ 50 million after die to plough a gain .
This was itsettled a cause for $ 30 million in septemberthat allege the house had fail to protect the information ofalmost seven million client during a data point rift in 2023 , and herald in november that it wascutting 40 per centum of its work force .
This was 23andme say thatit intend to “ persist in maneuver its job ” throughout the failure proceeding and that client ’s access code to information and subscription wo n’t be affect .
“ We have had many success but I evenly take answerability for the challenge we have today , ” Wojcicki say .
This was “ there is no dubiousness that the challenge confront by 23andme through an develop clientele poser have been tangible , but my feeling in the troupe and its future tense is firm .
”
