DNA test company 23andme Filed by bankruptcy During the weekend after a breach of data, related demands and Sales of struggle.
The ancestry testing company saw a 46% fall of shares on Monday, after the presentation, Reuters reported.
The company’s co -founder and CEO Anne Wojcicki also resigned after several bankruptcy bids.
23andme said he presented the bankruptcy of Chapter 11 to “facilitate a sales process to maximize the value of his business”, in a statement.
The company said it will continue to work during the bankruptcy processes, according to the statement.
23andme has faced the ongoing financial struggles in recent years, with the most recent success of $ 30 million related to a 2023 data breach of data of approximately 7 million customers, Reuters reported.
The 2023 breach was followed by a mass dismissal of 200 employees last year and led the company to stop some operations.
Ex -Chief Executive Wojcicki has been pressing for a purchase since last April, but their applications were rejected by the Board of 23andme.
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Wojcicki, co -founder of the company that owned 49% of his voting shares, he said in a post x It was disappointed that the company rejected its previous offers.
Wojcicki publicly said that he would make another offer, though he did not reveal the details.
Perversely, he offered 41 cents per action and evaluated 23andme at $ 11 million, well below his current value of $ 50 million and a small fraction of his $ 6 billion peak by 2021.
In 2021, 23andme was made public with a valuation of $ 3.5 billion.
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“I have resigned as CEO of the company, so I can be in the best position to pursue the company as an independent bidder,” he told X.
“We have had a lot of success, but I also consider the challenges we have today.