- 23andme was presented to obtain Chapter 11 of bankruptcy, and CEO Ann Wagiki may step down.
- DNA test company has faced challenges, including attempting failed privatization and data violation.
- 23andme will continue to work while searching for the buyer.
DNA test company 23andme was submitted for bankruptcy protection Chapter 11 and the resignation of CEO Ann Wajiki on Sunday.
The company, which is based in San Francisco, said, which has become common to serve as customers offer a sample of saliva to analyze their grandparents and their health risks, that it has started volunteer procedures in the American Banking Court of the Eastern Region in Missouri.
He will continue to work during the buyer’s request.
“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.
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As I announced this Wojcicki I resigned with an immediate effect. She participated in establishing 23andme in 2006 after the Wall Street profession. WoJCICKKI from the founder of Google Sergey Brin married from 2007 to 2015, and the company invested millions in this field.
Her late sister Susan and logic was the first marketing manager in Google and continued to become the CEO of Youtube before step down in 2023. Suzanne died of cancer the following year.
23ndme was announced in June 2021 and was estimated at more than $ 6 billion. It has never turned into profit and faces great obstacles in recent months.
In July 2024, WoJCICKI tried to take the private company, but a special committee rejected the proposal. She made another attempt earlier this month that was also rejected.
In September, 23andme agreed to a $ 30 million settlement in a collective lawsuit after infiltrators were exposed to the data of some users. A week later, all seven independent board managers resigned. 23andme recorded about 40 % of its employees in November to reduce costs.
In the SEC file in the same month, the company said that a debt worth $ 2.3 billion, or about $ 126 million in cash and cash rewards and will need additional liquidity.
Joe Silsavag, Financial Director, took over as temporary CEO. Mattar Kfarda was appointed from Alvarez and was sent as president for restructuring.
WoJCICKI will remain on the blackboard.
23andme did not immediately respond to a request for comment.
