23andMe CEO Anne Wojcicki Moves to Privatize the Company Amid Financial Struggles

Anne Wojcicki, CEO of 23andMe, plans to take the genetic testing firm private as the company faces declining stock values and financial challenges.

Anne Wojcicki, co-founder of 23andMe, is considering taking the company private after significant market valuation losses.
The company's valuation plummeted from a high of $6 billion at its public debut in 2021 to being virtually worthless.
Wojcicki intends to retain control and is not open to alternative acquisition offers, holding about 49% of the voting power.
23andMe has struggled with declining revenues and failed attempts to create a recurring revenue stream through subscriptions.
The move to privatize aims to secure more flexible funding for potential drug development leveraging its DNA database.