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23andMe files for bankruptcy as CEO steps down | Once valued at $6 billion, executives have yet to find a bidder for the $50 million gene testing company that has never turned a profit.
Customers can still access their data and delete accounts.
“After a thorough evaluation of strategic alternatives, we have determined that a court-supervised sale process is the best path forward to maximize the value of the business,” Mark Jensen, chair and member of the Special Committee of the Board of Directors, said in a statement. “We expect the court-supervised process will advance our efforts to address the operational and financial challenges we face, including further cost reductions and the resolution of legal and leasehold liabilities.” A weekly newsletter by David Pierce designed to tell you everything you need to download, watch, read, listen to, and explore that fits in The Verge’s universe.
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