23andMe Files For Bankruptcy, Anne Wojcicki Steps Down As CEO!
On Sunday, March 23, 2025, 23andMe, a renowned leader in human genetics and biotechnology, announced that it has filed for Chapter 11 bankruptcy in the U.S. Bankruptcy Court for the Eastern District of Missouri. This move comes after extensive evaluations of the company’s financial future and strategic alternatives.
Why 23andMe Filed for Bankruptcy
In a press release, the company emphasized that it had determined a court-supervised sale process was the best way to maximize the business’s value.
- Sale of Assets: 23andMe is seeking approval to sell substantially all of its assets, aiming to secure a successful transition.
- Employee Support: The company is committed to supporting its employees throughout this process.
- Data Privacy Commitment: 23andMe reassured customers that data privacy remains a priority and will be closely monitored in any potential transaction.
Leadership Changes at 23andMe
Along with the bankruptcy filing, 23andMe also announced the resignation of its CEO, Anne Wojcicki.
- CEO Resignation: Anne Wojcicki, the company’s co-founder, stepped down on the same day as the bankruptcy announcement.
- Interim Leadership: Chief Financial Officer Joe Selsavage has been appointed as the interim CEO.
A History of Struggles and Failed Takeovers
Despite multiple attempts at securing a takeover, Wojcicki’s efforts were unsuccessful, which may have contributed to the company’s decision to file for bankruptcy.
What’s Next for 23andMe?
The filing marks a significant shift for 23andMe. With a focus on safeguarding customer data and exploring a potential sale, the company’s future remains uncertain. The next steps depend on court approval of the asset sale, which will likely shape the company’s trajectory in the coming months.
