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On March 25, 2025, 23ndme headquarters in Sannevile, California.
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23ndme Linda Avi’s co -founder went to social media on Wednesday express frustration About the fate of a once-three genetic test company that entered section 11 Bankruptcy Protection This week.
Avey helped launch 23andme in 2006 together with Paul Kusenza and Anne Wojciecki, who resigned on Friday as CEO. The company made the main because of its popular dNA testing kits at home, but in recent years it has fought for receiving repetitive income, the sustaining viable therapeutic and research business and the concerns of privacy problems.
“My time in the company was stopped in 2009, when my co-founder Anne convinced the council that she should manage the company,”-wrote Avi on a social media site X. “and I should be honest, I was disappointed that the company accepted after that item.”
23ndme, which reached a peak cap of about $ 6 billion, cost about $ 14 million when the market is closed on Wednesday.
“Without the constant development of consumer products, and without driving, 23ndme lost its way, and the society missed the key opportunity in expanding the idea of ​​personalized health,” Avi wrote.
Last March, independent 23andme directors set up a special committee to evaluate the company’s potential routes forward. In September, all seven members left the council and stated that they did not agree with Wojcicki about the “strategic direction for the company”.
“After my departure, she voted for herself to the architect, which eliminated the council management, even when she expanded for the next round of financing,” Avi said. “For the best or worst, the tank stopped with her. It didn’t surprise when the council resigned last year.”
Wojcicki has submitted several sentences to take the company on its own but all were rejected even after the company’s appointment New members of the Board. Special Committee “unanimously decided to dismiss” the last offer Wojcicki earlier This month.
If the 23andme plan is approved by the court, the company “will” actively require qualified applications “in the process of 45 days. Wojcicki still plans to chase the company as an independent bidding participant, she said on Monday.
“There are many careful fairy tales buried in 23ndme,” Avi said. “The attentive balance between the desire for managing the founder and the supervision of the advice is important; otherwise, why is there a board?”
23andme did not immediately respond to CNBC’s request for comment.
