23 and not me any more

real_aurgathor

The pioneer of direct to consumer genetic testing just filed for bankruptcy.

I guess having a business model relying on a test that most people do only once may not work for very long. BTW, the company was valued about $6B some time ago.

https://www.usatoday.com/story/money/2025/03/24/23andme-bankruptcy-ceo-anne-wojcicki-resigns/82633227007/

dave

The interesting question is what will happen to their major assert - the genetic information about their customers.

Sure, there’s the usual empty noises about privacy-is-our-first-concern and we-take-security-seriously and safeguard-user-data, but when personal info is all you’ve got to sell, that’s what you’ll sell.

Though maybe that all got released in 2024 anyway….

Somewhat-Reticent

dave See: 2023 data breach and esuing class-action lawsuit.
Sell remains to competition?

real_aurgathor

Some of that may already be on the darkweb – but to answer the question: I simply do not know for sure, though I expect that at the end there will be a highest bidder.

A while ago I was actually thinking about getting a test, but I procrastinated enough that I don’t think I want it much any more after seeing what happened in the last couple of years.

HooRU

I was mad at my sister when she did the test because she put our genetics out there and she didn’t consult with me, as well as she adopted her kid, that sends the wrong message.

px_eliezer_

real_aurgathor I guess having a business model relying on a test that most people do only once may not work for very long.

They had hoped to expand into the medical research and health maintenance side of the street, aided by the massive data they were collecting.

The CEO has resigned, which is ironically known as a 23 skidoo

23 skidoo is an American slang phrase generally referring to leaving quickly, being forced to leave quickly by someone else, or taking advantage of a propitious opportunity to leave.
—Wikipedia

Sparkchaser

I’m understanding that 23and me is very different from Ansestry.com. I know nothing about 23 and me. My family did submit genetics to Ansestry.com. It was very interesting and nothing about medical problems, just “roots”. In some cases it was what we expected, in others not. It was worth the investment.

real_aurgathor

Sparkchaser I’m understanding that 23and me is very different from Ansestry.com.

That is not correct. Both look at the provided DNA, it’s just that ancestry is primarily focused on helping individuals understand information on their genealogy and geographic or ethnic origins of their families while 23andme is more is more health-focused, and provides information on various genetic issues. Obviously, ancestry.com did a better job of selling monthly subscriptions to their services.

px_eliezer_

real_aurgathor That is not correct. Both look at the provided DNA, it’s just that ancestry is primarily focused on helping individuals understand information on their genealogy and geographic or ethnic origins of their families while 23andme is more is more health-focused, and provides information on various genetic issues.

Ancestry.com had a HUGE built-in advantage with their existing user-base, a group of people who were highly interested in their ancestry/genealogy to begin with…!

Ancestry.com puts the Gene into Genealogy.

It is the ultimate synergism.

telcodad

From Google AI:

Which is better, 23andMe or Ancestry.com?

For family history and genealogy, Ancestry.com is generally considered better due to its larger database and more robust tools for connecting with DNA matches and building family trees, while 23andMe is stronger for health and trait insights with its comprehensive health reports and genetic analysis.
Here’s a more detailed comparison:

Ancestry.com:
Focus: Primarily focused on ancestry and family history research.
Strengths:

Larger database: Ancestry.com has a larger database of users and DNA samples, leading to more potential matches.
Robust family tree tools: Offers tools for building and exploring family trees, connecting with DNA matches, and accessing historical records.
Detailed ethnicity reports: Provides detailed ethnicity breakdowns, including granular regional information.
Limitations:
No health reports: Doesn’t offer health-related insights or reports.

23andMe:
Focus: Provides both ancestry and health information.
Strengths:

Health reports: Offers comprehensive health reports, including genetic predisposition to certain conditions and traits.
Trait reports: Provides insights into various traits and characteristics based on genetic makeup.
More specific ethnicity breakdown: While both companies provide ethnicity breakdowns, 23andMe may offer a slightly more specific breakdown in some cases.
Limitations:
Smaller database: Has a smaller database of users compared to Ancestry.com, potentially leading to fewer matches.
Less focus on genealogy: Less emphasis on genealogy and family history research compared to Ancestry.com.

Which one is right for you?

If you’re primarily interested in family history and genealogy:
Choose Ancestry.com for its larger database and robust tools for connecting with DNA matches and building family trees.

If you’re interested in both ancestry and health insights:
Choose 23andMe for its comprehensive health reports and genetic analysis, in addition to its ancestry features.

My wife and I both chose 23andMe about 2 years ago, when they had their Ancestry+Health kits on sale.

Somewhat-Reticent

Law Enforcement loves them all.

HELLFIRE

Snark in title courtesy of and credit to TheRegister : https://www.theregister.com/2025/03/24/23andme_bankruptcy_protection/

Beleaguered DNA testing biz 23andMe – hit by a massive cyber attack in 2023 – is filing for bankruptcy protection in the US following years of financial uncertainty. …

Regards

HELLFIRE

Posted a piece from TheRegister that looked more on the security / privacy side, with the requisite World Class British Snark™ 😃 😃 – https://broadbandbulletin.com/d/1839-23andmes-genes-not-strong-enough-to-avoid-chapter-11

Regards

Somewhat-Reticent

HELLFIRE never turned a profit

Efficiently milked for every cent?

GrumpyCanadian

px_eliezer_ The CEO has resigned

With the usual golden parachute, I presume?

real_aurgathor

GrumpyCanadian

There is no indication of any golden parachute, but there is this interesting note:

The former CEO attempted multiple takeover bids, but each failed

One possible explanation of this is that she tried to buy the company for probably not even a penny on a dollar, but was turned down, It would be interesting to know what exactly was in those takeover bids.

I’m not familiar with Ch11 proceedings, but if I understand, there is usually a sale to the highest bidder(s). I presume she could still participate there.

real_aurgathor

real_aurgathor One possible explanation of this is that she tried to buy the company for probably not even a penny on a dollar,

My apologies, I was dead wrong here – she offered somewhere in the vicinity of a whopping 4.5 cents on a dollar, based on the then current share price. 😲

In July 2024, Wojcicki announced her intention to take 23andMe private, by paying 40 cents each for all outstanding shares not already owned by her directly or through affiliates.

Edit:

There was another take-over bid this year for a much better share price of 41 cents: 🙃

23andMe’s special committee of independent directors on Monday rejected CEO Anne Wojcicki’s proposal to take the distressed genetic testing company private.

Wojcicki submitted a proposal to the committee on Sunday, offering to acquire all of the company’s outstanding shares for 41 cents each.

Shares of 23andMe plunged 33% on Monday to $1.47 and have lost more than 99% of their value since peaking in 2021.

While I could agree with the board rejecting 40 cents per share when the stock was valued around $9, the 2nd offer wasn’t nearly as bad when the stock was around $2.

It remains to be seen how much that stock will be valued later on on the bankruptcy asset sale – given the last closing price of 73 cents, the 2nd offer was over 50 cents on a dollar given the last price!!

In any case, I think there is a better than 90% chance that she’ll try to acquire the company later, unless she’s prevented by some law. Another likely bidder would be AncestryDNA, who could buy it just to get rid of a competitor.

Astyanax

dave The interesting question is what will happen to their major assert - the genetic information about their customers.

They forfeited their right to ever ask that question for the rest of their lives the day they dropped their spit in the mail to the company.

Sparkchaser

px_eliezer_ Ancestry.com had a HUGE built-in advantage with their existing user-base, a group of people who were highly interested in their ancestry/genealogy to begin with

That was the only reason our immediate family tried it. It was interesting and fun. To my knowledge after getting the info we wanted, no one went for a monthly plan. We were happy with them.

Sparkchaser

Somewhat-Reticent Law Enforcement loves them all.

Is that strictly due to the DNA link?