23andMe Files for Bankruptcy Protection as CEO Resigns Amid Financial Struggles

In a significant turn of events, renowned DNA testing company 23andMe has filed for bankruptcy protection, prompting the immediate resignation of its co-founder and CEO, Anne Wojcicki. As the company moves to sell itself under court supervision, it aims to maintain operations during the sale process and has reassured customers that there will be no changes to how it stores, manages, or protects their data. However, California’s Attorney General has issued a consumer alert, advising users to consider deleting their data due to the company’s reported financial difficulties.

Once valued at $6 billion, 23andMe has seen a decline in performance and public trust in recent months. In September, the firm settled a lawsuit for its failure to protect the privacy of nearly seven million users during a significant data breach. Just two months later, it announced a dramatic workforce reduction involving 200 employees, or 40% of its total staff. Following Wojcicki's departure, the company's finance chief, Joe Selsavage, has stepped in as interim CEO, while Wojcicki remains on the board. The unfolding situation marks a pivotal moment for the company, as it works to navigate through challenges and restore its standing in the market.