In a surprising turn of events, 23andMe, known for its popular DNA testing kits, has officially filed for bankruptcy protection. This announcement coincides with the resignation of co-founder and CEO Anne Wojcicki. The company aims to find a buyer, while continuing its operations under judicial oversight.
Despite once being valued at an impressive $6 billion, 23andMe has encountered significant challenges in recent months, including a troubling lawsuit concerning a data breach that compromised the information of nearly seven million users. This led to a public suggestion from California's Attorney General advising customers to remove their data from the platform amidst ongoing financial concerns.
To address these issues, 23andMe has appointed Joe Selsavage, the finance chief, as interim CEO. Wojcicki will remain a member of the board as the firm navigates through this tough period. The company promises that customer data management and protection will remain unchanged as they work toward stability.
