23andMe files for bankruptcy, Anne Wojcicki steps down as CEO
Summary
Anne Wojcicki, co-founder and chief executive officer of 23andme Inc., during the South by Southwest (SXSW) festival in Austin, Texas, US, on Friday, March 10, 2023. Embattled genetic testing company 23andMe , once valued at $6 billion, filed for Chapter 11 bankruptcy protection in Missouri federal court on Sunday night. The companys CEO, Anne Wojcicki, has resigned from her role as chief executive effective immediately, though she will remain a member of the board. The former billionaire co-founded 23andMe in 2006, and the company rocketed into the mainstream because of its at-home DNA testing kits that gave customers insight into their family histories and genetic profiles. 23andMes stock has mostly been in free fall in recent years as the company struggled to generate recurring revenue and stand up viable research and therapeutics businesses.