[Market Trends] How 23andMe Went From $6B Valuation to Penny Stock | WSJ What Went Wrong

 



📌 Despite Controversies

In 2006, Anne Wojcicki co-founded 23andMe with a vision of revolutionizing healthcare through saliva-based genetic testing. Initially promising, the company was valued at $6 billion in 2021, making Wojcicki a billionaire. However, the company later faced several issues, including privacy concerns, a one-time business model, and high operational costs, recording a loss of $312 million by the end of the 2023 fiscal year. Despite efforts at innovation and diversification, 23andMe is facing declining sales, rising costs, and the potential delisting from Nasdaq. The company is considering splitting its consumer and drug development sectors, exploring ways to regain momentum.



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