DNA information is digital, so for a while we seemed poised on a 'viral' bio-informatics revolution, which may still come. 23andMe looked like the start of the consumer side of that business, but people only need to upload their data once, and the rest of the business didn't take off...
The WSJ has the story:
23andMe Went From a $6 Billion Giant to Bankruptcy. Its Former CEO Won’t Walk Away.
Anne Wojcicki aims to buy the assets of her failed DNA-testing company after her prior bids were rejected By Rolfe Winkle
"23andMe, once valued at $6 billion, has filed for bankruptcy after burning through $1 billion and laying off over half its staff.
"Former CEO Anne Wojcicki's ambitious plans to use 23andMe's genetic data for drug discovery and healthcare services failed to generate revenue.
"Despite her supervoting shares, Wojcicki's bids to buy back the company were rejected by two boards of directors."
...
"On Sunday night, the company filed for bankruptcy protection, its survival uncertain. Wojcicki immediately vowed to buy it back.
...
"With FDA support and a $99 price tag, the tests had mass-market appeal. As stories filtered out about people discovering lost siblings or parents, 23andMe went viral.
...
"People only need to take, and pay for, one DNA test."
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