Genetic testing company 23andMe has filed for Chapter 11 bankruptcy after years of declining demand, financial losses, and fallout from a major 2023 data breach. CEO Anne Wojcicki has stepped down, and interim CEO Joe Selsavage is now overseeing operations as the company seeks a buyer. The firm will continue operating during restructuring but faces intense scrutiny over customer data security. California’s Attorney General is urging users to request data and sample deletion, citing privacy concerns. Once a Silicon Valley darling, 23andMe’s valuation has plummeted, with shares now in penny stock territory.
23andMe bankruptcy update: Stock falls to penny territory as California urges customers to delete their data (Fast Company)
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