DNA Firm 23andMe Files For Bankruptcy After Years Of Losses And Data Breach

Benzinga

DNA testing company 23andMe filed for bankruptcy protection and announced the immediate resignation of CEO and co-founder Anne Wojcicki, according to The Wall Street Journal. The company will attempt to sell itself under court supervision, and it will continue operations during the process. California’s Attorney General issued a consumer alert urging users to delete their data due to the company’s financial distress.23andMe has struggled to profit since going public in 2021, facing challenges like a 2023 data breach. All board members but Wojcicki resigned last summer, citing a lack of acceptable buyout offers.

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00:00It's Benzinga bringing Wall Street to Main Street.

00:02A testing company, 23andMe, filed for bankruptcy protection

00:05and announced the immediate resignation of CEO and co-founder Ann Wojcicki,

00:10according to the Wall Street Journal.

00:11Company will attempt to sell itself under court submission

00:14and it will continue operations during the process.

00:17California's attorney general issued a consumer alert

00:20urging users to delete their data due to the company's financial distress.

00:2523andMe has struggled to turn a profit since going public in 2021.

00:29Facing challenges like a 2023 data breach,

00:32all board members but Wojcicki resigned last summer,

00:35citing a lack of acceptable buyout options.

00:37For all things money, visit Benzinga.com.

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