23andMe Faces Bankruptcy Amid Privacy Concerns and Leadership Changes

The genetic testing giant's financial troubles raise questions about the security and future of millions of users' DNA data.

23andMe, once a leader in direct-to-consumer genetic testing, is nearing bankruptcy due to financial struggles and a massive data breach.
The company's stock value has plummeted by over 97% since its peak following its public listing in 2021.
A data breach in 2023 compromised the genetic data of nearly 7 million users, leading to a $30 million class action lawsuit settlement.
Anne Wojcicki, CEO and co-founder, plans to take the company private, rejecting third-party takeover proposals to maintain data privacy commitments.
Despite privacy assurances, there is growing consumer concern about the potential sale or transfer of genetic data if the company is sold or restructured.