Reported 2 days ago
23andMe has filed for Chapter 11 bankruptcy protection while co-founder and CEO Anne Wojcicki has resigned, amid ongoing struggles to establish a profitable business model since going public in 2021. The San Francisco-based genetic testing firm plans to sell most of its assets through a court-approved reorganization plan and is committed to maintaining customer data privacy during this transition. The company will continue operations with $35 million in financing while aiming to resolve its significant financial challenges.
Source: YAHOO