(qlmbusinessnews.com . Wed 26th Mar, 2025) London, UK —
“Financial Woes Hit 23andMe: DNA Testing Giant Seeks Bankruptcy, CEO Steps Down”
DNA testing company 23andMe has filed for bankruptcy protection in the US and announced the immediate resignation of its co-founder and CEO, Anne Wojcicki. The firm, once valued as high as $6bn (£4.6bn) thanks to its popular saliva-based test kits and endorsements from celebrities like Oprah Winfrey and Snoop Dogg, now faces severe financial distress.
According to a recent press release, 23andMe intends to continue operating throughout the sale process, with all customer data protections remaining intact under UK GDPR regulations. The Information Commissioner’s Office (ICO) has also notified the company of a forthcoming £4.59m fine over a 2023 data breach, where hackers accessed personal details such as family trees, birth years, and geographical locations using outdated passwords.
Founded in 2006 and taken public in 2021, 23andMe has struggled to turn a profit, and its attempts to pivot into subscription services and drug development have faltered. The fallout from a lawsuit settled in September—alleging that the firm failed to secure the privacy of nearly seven million customers—has further undermined its financial position. Following the settlement, the company reduced its workforce by 40%, cutting 200 jobs.
Interim leadership will be provided by finance chief Joe Selsavage, while Anne Wojcicki will remain on the board despite her resignation as CEO. Amidst these upheavals, industry experts and privacy advocates are raising concerns about the fate of customers’ genetic data—a highly sensitive category of personal information under UK law. Professor Carissa Veliz, author of *Privacy is Power*, warned that sharing DNA data with 23andMe also exposes the genetic details of family members who did not consent.
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