NEWSLETTER
Transcription:
Loren Torres: 23Andme, which gave customers “personalized genetic ideas” through their DNA test kits at home, has declared bankruptcy. In its announcement, the company also revealed that the CEO Anne Wojcicki renounces, from immediately.
In a press release announcing the bankruptcy plan, a 23Andme's Board member said: “After an exhaustive evaluation of strategic alternatives, we have determined that a supervised sales process in court is the best way to maximize the value of the company.”
Related: the main archives of the Banking Company of Chapter 11
23Andme became public in 2021, but it has never been profitable. The company fired 40% of its workforce at the end of 2024. And in September, the 7 independent directors resigned at the same time.
The company expects bankruptcy to help facilitate a sale.
That will do that for your daily information session. From New York City, I am Loren Torres with Thatleet.
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