23andme, Linda Avey is the mourning for what the Biotechnology Company can become.
Avey was reflected in 23andme – and former CEO Ann Wujiki criticized – in a LinkedIn post On Wednesday, saying, “It is time to express my views about the company, after I witnessed the fall of an idea and a brand that could become the world’s leading digital health platform.”
On Sunday, 23andme submitted a request to protect bankruptcy, Chapter 11 and announced the resignation of WoJCICKI. Avey has worked alongside WoJCICKKI and Paul Cusenza to launch the biotechnology company in Silicon Valley for nearly twenty years. The company performs the consumer direct DNA testing groups and explores genetic research. Avey occupied as a co -chair from 2006 to 2009 and remained a member of the company’s board of directors until 2011.
In this position, Avey said that the idea of 23andme raised after working in life science research for years.
She said: “Lightbulb – if you are interested in accessing my own data, do not feel the same way? Get personal information deeply about what makes us” we “cannot be denied.
Avey said that she followed this goal under 23 and 29 years until 2009, when her time was “brief”.
Avey said: “My time in the company was reduced in 2009, when I persuaded the participation of the council that the council should manage the company. I must be honest, I was frustrated by the direction that the company took after this point.” “After leaving, I established the majority vote for itself, which canceled the governance of the Board of Directors, even as the Board of Directors expanded the following financing rounds. For the best or for the worse, Pak stopped with it. It was not surprising when the council resigned last year.”
Avey said that 23andme was “in a unique position” at first, and it is painful to think about what could be. “
“The company gathered one of the largest genetic data collections in the world, and the credit of Ann, it has created a wonderful brand for consumers. We can only imagine the importance of the data set that could have been built, combined blood works, deeper genes sequence, data that can be worn, and providing viable heads,” said Avi. “Now, the market has been divided with the data that is caught in many different companies.”
Avey said that 23andme lost its way “without” developing products that focus on consumer “and” appropriate governance. “
“More than 14 million people who bought this concept deserve to see their data move to a safe platform with a new leadership and vision,” said Avi.
Avey renewed its statement by emphasizing the importance of C-SUITE.
“There are many warning tales buried in the story of 23andme. Achieving a balance between the desire to control the founder and supervise the council is necessary; otherwise, why do you have a board at all?” Avey said. But regardless of the splendor of the idea, the importance of the dynamics of the founding team and its ability to listen to the comments is the key.
Avey, WoJCICKKI and 23andme representatives did not respond to suspension requests from Business Insider.
23andme struggles before submitting bankruptcy
23andme has survived several storms since 2023.
Although privacy concerns have fallen into the company for years, the criticisms rose in October due to news that some user data had been at risk. The infiltrators who demanded access to data, including birth details and names, were selling them on the dark web. Tell 23andme BI that asset data for about 7 million users have been accessed. After a collective lawsuit, the company agreed to a $ 30 million settlement last September.
In the same month, independent directors of the 23andme board of directors resigned in a letter to WojCICKI, saying that “it is clear that we differ in the strategic direction of the company to move forward.”
23ndme announced three new board members in October 2024 and added another member this month.
WoJCICKKI fell in the hot seat in 2024 when the SEC file said it “will be open to consider the third -party acquisition proposals.” After consumers expressed their concerns about what could happen for their personal data, unlike Wojcicki its path.
The cracks were deepened in 23andme last November when the company announced that it had been restructured for its business, was demobilized nearly 40 % of its employees, and ended more development for the treatments program.
Recently, 23andme said it will continue to work while searching for the buyer.
“After a comprehensive evaluation of strategic alternatives, we decided that the sale that is supervised by the court is the best way forward to increase the value of the work,” President Mark Jensen said in a press statement. ))
