23andMe, once a leader in at-home DNA testing, has filed for Chapter 11 bankruptcy after several years of financial strain and operational issues. The company's past valuation of over $6 billion in 2021 has plummeted to under $50 million due to declining revenues, failures in their drug development efforts, and a damaging data breach that exposed half its user base. The potential fate of the extensive genetic data from over 15 million customers remains uncertain, prompting warnings from officials about privacy risks and the need to delete personal data.
The company's collapse raises serious questions about the future of its vast troves of genetic data collected from more than 15 million customers, including my own records.
The company's attempted pivot into pharmaceutical research and drug development partnerships, including a high-profile collaboration with GlaxoSmithKline (GSK), never met expectations.
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