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0653, 29 Jan 25

23andMe Looking for Capital

This is why sending my DNA off to one of these companies to satisfy a curiosity always seemed risky to me. What is this company’s #1 asset? The DNA it has collected from millions of people. While 23andMe may be an ethical company that protects your privacy, there is nothing preventing it from selling that asset to a predatory firm or a hostile foreign actor.

Embattled genetic testing company 23andMe said on Tuesday that it’s started exploring strategic alternatives for a second time, which could include a sale of the company or its assets, a restructuring or a business combination.

 

The stock, which lost 82% of its value last year, fell 10% in extended trading and was briefly halted.

The announcement coincided with the release of 23andMe’s third-quarter results. Revenue in the company’s consumer services business dropped 8% to $39.6 million from $42.9 million in the same period last year.

 

The company said it will “need additional liquidity” to fund its operations, and it is looking to raise capital.

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0653, 29 January 2025

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