23andMe files for bankruptcy

The 23andMe Special Committee released news today indicating their plan to take the company through the Chapter 11 process.   While I am disappointed that we have come to this conclusion and my bid was rejected, I am supportive of the company and I intend to be a bidder.   I have resigned as CEO of the company so I can be in the best position to pursue the company as an independent bidder.  Nineteen years ago, when I co-founded 23andMe, the direct to consumer industry did not exist and most people had no idea why they would ever want to see their genome.   So much has changed.   There is now a thriving direct to consumer industry and over 15 million people are now 23andMe customers.   These customers are continuing to learn about their family relationships and how to optimize their health thanks to the incredible team of individuals at 23andMe who innovate and help customers gain insights from their genetic information.  What made so many of our innovations possible were the 85% of our customers who opted in to research.  Thanks to them they have empowered an incredible platform for discovery.  You enabled our pursuit into novel drug discovery and our 50 programs with GSK.   In addition, over 250 publications have come out because of you and we have meaningfully impacted the research world.   Thank you.   We have had many successes but I equally take accountability for the challenges we have today. There is no doubt that the challenges faced by 23andMe through an evolving business model have been real, but my belief in the company and its future is unwavering.  Consumers are rising up and asking for more control over their health and want greater knowledge about how to be healthy and why they may have health issues.   We fought for consumers to have direct access to their information and for them to have choice and transparency with respect to their personal data.   As I think about the future, I will continue to tirelessly advocate for customers to have choice and transparency with respect to their personal data, regardless of platform.   Since 2006, we have built an incredible consumer brand with one of the world's largest and most diverse genetic communities. Our foundation was the trust and respect of our customers, and they were always the guiding light on how we made decisions. If I am fortunate enough to secure the company’s assets through the restructuring process, I remain committed to our long-term vision of being a global leader in genetics and establishing genetics as a fundamental part of healthcare ecosystems worldwide.

23andMe is bankrupt - a lesson why you might not want to give your genetic data to a startup? What has happened? - Once valued at $6B, it has lost 99% of it's valuation until now - Hackers stole the data of 7 million users in 2023 - the company has been struggling to turn a profit, largely by not having found a sustainable business model What happens with your data? - 23andme apparently has its own data privacy rules - That means that everybody who sent their genetic material - your genetic material might also be sold off in the bankruptcy to a new owner --> If you have an account there, you might still be able to delete, close your account with your data What's the startup & entpreneurship take-away? - You need to find product/market fit. You can live off hype and vision for a period of time - even a long period of time, if you find enough investors, but at some point, you will need to have product/market fit - There are different setups - for-profit or non-profit, different foundation models to ensure data protection and privacy. For some type of businesses or data, maybe a non-profit structure might be better to safeguard data -->What else? https://lnkd.in/dq-CQwmb

Step-by-Step Guide to Removing Your Data from 23andMe as it files for Bankruptcy Log Into Your Account Sign in using your username and password. This ensures you have access to your account settings, which is essential for initiating data removal. Navigate to Your Account Settings Locate the section typically labeled “Privacy,” “Security,” or “Account.” Look specifically for options related to account closure or data deletion. Initiate the Deletion Process If available, select the option such as “Delete Account,” “Close Account,” or “Remove My Data.” Follow the prompts to confirm that you want to permanently remove your personal data. Note that, with the current company changes, the deletion option might be modified or temporarily unavailable. If that’s the case, proceed to the next step. Contact Customer Support or the Privacy Team In light of the bankruptcy and operational changes, directly reach out to 23andMe’s support or privacy department. Ask specifically how you can have your data permanently deleted under the current circumstances. Use any provided contact emails or customer service forms. Keep a record of your correspondence. Confirm the Deletion and Keep Records Once your request is processed, you should receive a confirmation via email or account notification. Save any confirmation messages and details of your request. Monitor for any additional updates or instructions from 23andMe regarding data handling during the bankruptcy process. Consider Legal or Data Protection Assistance If you feel uncertain about how your data is being handled—especially during bankruptcy—you might consult with a legal professional or your local data protection authority. In some jurisdictions (e.g., under GDPR or CCPA), you have additional rights regarding your personal data. https://lnkd.in/dSvB3uC7

Your DNA bank — 23andMe, that is — is bankrupt. Jon Weigell explains how it all went wrong 👇 #23andme #news #business #businessnews #bankruptcy

23andMe Bankruptcy: What Happens to Our Genetic Data? With 23andMe filing for bankruptcy, a question that many of us have likely been thinking about has come to the forefront: What will happen to the privacy and security of our data, especially our sensitive genetic information? Here are 3 things to know: 1. Data Is An Asset: In bankruptcy, a company’s assets - including customer data - can be sold to repay creditors. If another company acquires 23andMe, genetic data could be transferred as part of the deal terms. 2. Legal Protections Exist, But There’s A Caveat: Privacy laws like GDPR and California’s Genetic Information Privacy Act impose restrictions and the FTC has intervened in past cases to prevent the sale of sensitive data. However, bankruptcy courts may still allow data transfers under certain conditions. 3. Ongoing Risks To Customers: Data security may weaken during bankruptcy, increasing the risk of a breach. A new owner may also use genetic data in ways customers never intended - such as for research, insurance coverage decisions or marketing. So what can you do? If you have a 23andMe account you have a couple of options to consider: - Option 1: Act Now. Request data deletion before any potential change in ownership. - Option 2: Monitor Progress. Follow the bankruptcy proceedings to stay informed & then determine your next steps. Regardless of which option you choose, it is prudent to understand your rights under privacy laws to challenge any future transfer of genetic information. This situation is unfortunately a stark reminder that when we give a company our data we’re trusting it to remain secure under a range of often unforeseen conditions including financial distress as in this situation. Companies handling sensitive personal information must prioritize data protection not just when the business is performing well, but just as crucially during times of challenge. https://lnkd.in/gDNUcA7Q

23andMe filing for bankruptcy marks the end of an era for consumer DNA testing. Despite early success, the company struggled with declining demand, regulatory scrutiny, and the challenge of monetizing genetic data beyond ancestry insights. This serves as a cautionary tale for startups in biotech and healthtech—scaling a consumer health business is tough, and data alone isn’t always a sustainable moat. During a family trip, my sister gave us 23andMe testing kits, and it was an unforgettable experience. Learning about my genetic lineage and potential health risks was eye-opening. It made me appreciate the power of personal genomics and the possibilities it could unlock. I was hopeful that 23andMe could eventually turn things around—leveraging its massive genetic database to develop a breakthrough drug. But that never materialized. I believe the root cause was that the company struggled to create a sticky business model beyond one-time DNA tests, highlighting a key lesson for healthtech and biotech: even groundbreaking data needs a sustainable, recurring revenue model to survive. https://lnkd.in/eRfvUXdx

Genetic testing company 23andMe has filed for bankruptcy and announced the resignation of its chief executive, Anne Wojcicki. Nancy Chen breaks down what this means for the company’s millions of customers — and how to delete your data. https://lnkd.in/ejJqZ_9Y

📢 The rise and fall of once-highly-praised 23andMe 🚨 Some of you may remember 23andMe was valued at over $6 billion, and it is now filing for bankruptcy. 👉 What happened? 👉 Plummeting valuation – From a peak of $6B in 2021 to under $50M in 2025 🤯 👉 Revenue decline – Down 7% in the first three quarters, with $174M in losses. 👉 Stock price collapse – Once over $300/share, now under $1 🤯 But here’s the real issue: ❌ No repeat customers – People bought a DNA kit once and never returned. ❌ Failed diversification – Attempts to move into therapeutics and research weren’t enough. ❌ Strong competition – Rivals like Ancestry had more sustainable models. Then came the breaking point: ⚠️ 2023 Data Breach – 7M+ users' data leaked → $30M lawsuit payout. ⚠️ Leadership exodus – All independent directors quit in 2024. ⚠️ Privacy concerns – DNA health risk predictions raised ethical red flags. Now? 23andMe is restructuring in Chapter 11 bankruptcy with a hope to salvage what’s left. 💬 What’s the lesson here for us? 👉 A one-time purchase model is risky. 👉 Privacy missteps can destroy trust. 👉 And no company is too big to fail. 👉 What do you think went wrong? 👇 👉 Follow me, Ehsan Etezad, for more insights on Business & Technology.

23andMe filed for bankruptcy Sunday and announced the resignation of its CEO. How did the company get here? WSJ reporter Rolfe Winkler explained last year how one of the hottest startups became virtually worthless. Read more about 23andMe’s bankruptcy: https://on.wsj.com/42iK3KH

23andme has filed for bankruptcy. hacking or bankruptcy has been a deeply held concern of mine since the start of this company. Thankfully, I counseled my family not too take the bait years before they were hacked. Now going into bankruptcy, finance will dictate the value of your DNA that will never change. I bet every insurance company is going to be making their bids for this gold mine, either directly or indirectly gaining access. I think the promise of the solution of rapidly testing your genetics to gain better and deeper understanding of your potential opportunities, and risks is profoundly valuable. But when the company won't remove your records from their database, even if you paid them to do it, it fails to pass moral and existential challenges faced in this outcome of being hacked by bad actors, and/or bankruptcy and falling into the hands of bad actors. Sadly both of these outcomes became true.