Where Data Tells the Story
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Founded in 2006, 23andMe was once one of the buzziest names in biotech, offering users an ancestry breakdown by mapping genes from saliva samples — spawning countless viral social media posts laying claim to percentages of previously unknown heritages. When it went public via a merger with a special purpose acquisition company in 2021, it was valued at ~$3.5 billion, before briefly peaking at $6 billion a few months later. Yesterday, 23andMe’s valuation stood at just $194 million.
The threat of being delisted has hung over the DNA testing kit company since late last year, having traded below the $1 Nasdaq minimum for ~10 months. Now, with 23andMe stock still down more than 95% from its peak, Wojcicki has submitted a proposal to a special committee of directors to take the health co. private, according to an SEC filing earlier this week.
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