Biotechnology company 23andMe has filed for bankruptcy, with co-founder and CEO Anne Wojcicki stepping down, effective immediately.
On Sunday, 23andMe filed a voluntary petition for bankruptcy in the U.S. Bankruptcy Court for the Eastern District of Missouri. According to a press release, it “intends to continue operating its business in the ordinary course throughout the sale process,” with “no changes to the way the company stores, manages, or protects customer data.”
The DNA testing company said it would use the money from the sale to “resolve all outstanding legal liabilities stemming from the previously disclosed October 2023 cyber incident.” The company agreed to pay a $30 million settlement over a massive data breach that affected 6.9 million users in October 2023.
Once valued at $6 billion, 23andMe lost 98 percent of its value in October 2024, with all independent board members resigning in September.
23andMe also announced that CEO Wojcicki had resigned, with the company saying the decision was “by mutual agreement between Ms. Wojcicki and the Special Committee” of the Board of Directors. Wojcicki posted on X that she was “disappointed” by the outcome — the CEO’s bid to take 23andMe private was rejected in early March 2025.
“While I am disappointed that we have come to this conclusion and my bid was rejected, I am supportive of the company and I intend to be a bidder.” she wrote. “I have resigned as CEO of the company so I can be in the best position to pursue the company as an independent bidder.”
