In a shocking turn of events, 23andMe, the once-celebrated pioneer of at-home DNA testing, has officially filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court, signaling a dramatic fall from its $6 billion peak in 2021 to a mere $50 million valuation today.
The bombshell announcement, made on Sunday, March 23, 2025, was swiftly followed by the immediate resignation of co-founder and CEO Anne Wojcicki, who has vowed to stay on the board and fight for the company’s future as an independent bidder. But as the dust settles, millions of customers are left wondering: what happens to the treasure trove of genetic data they entrusted to the company?
DNA Disaster Unveiled
The filing caps a tumultuous period for 23andMe, marked by a devastating 2023 data breach that exposed the personal information of nearly 7 million users, a $30 million settlement, and dwindling demand for its ancestry kits—once a holiday season darling featured on Oprah Winfrey’s coveted “Favorite Things” list.
With sales tanking and Wojcicki’s repeated takeover bids rebuffed by the board, the company now faces a court-supervised sale process, leaving its 15 million customers on edge.
Adding fuel to the fire, California Attorney General Rob Bonta issued an urgent consumer alert on Friday, just days before the bankruptcy news broke, urging residents to “delete their data and destroy any genetic material” held by 23andMe.
Citing the state’s robust Genetic Information Privacy Act and California Consumer Protection Act, Bonta warned of the “trove of sensitive consumer data” at risk as the company’s fate hangs in the balance. Privacy advocates are sounding the alarm, with fears that this genetic goldmine could end up in the hands of unknown buyers—or worse, the dark web—if the sale goes awry.
Wojcicki, who stepped down to position herself as a potential buyer after her latest $11 million offer was rejected, took to X on Monday to defend her vision, stating, “I believe in the strength of what we’ve built.”
Meanwhile, interim CEO Joe Selsavage steps into the chaos, tasked with steering 23andMe through its financial wreckage while assuring customers that operations will continue “business as usual” during the sale process. The company has secured $35 million in financing to stay afloat, but skepticism abounds.
Posts on X reflect a mix of outrage and dread, with users like @benrothke warning that “all of their confidential PII will be in the hands of the highest bidder,” and @iLoveJaneAdams lamenting, “Too late” for those who handed over their DNA.
As 23andMe’s stock plummeted 46% to a measly 96 cents on Monday, the question looms large: will this biotech unicorn’s collapse mark the end of an era—or the start of a privacy nightmare? Stay tuned as this genetic saga unfolds!
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