23andMe Collapses Into Bankruptcy, CEO Anne Wojcicki Steps Down

​In a stunning collapse for one of Silicon Valley’s most recognizable health-tech names, 23andMe has filed for Chapter 11 bankruptcy, and CEO Anne Wojcicki has stepped down, effective immediately.

​Once valued at over $6 billion, the DNA testing firm that brought genetic health reports and ancestry insights to more than 15 million people is now nearly worthless. Its stock has plunged below $1, and its ambitious plan to reshape healthcare has officially unraveled.

From Spit Kits to Stock Wipeout
23andMe made headlines with its easy-to-use DNA test kits and a mission to revolutionize healthcare through personal genetics. At its peak, the company’s test tubes became popular gifts, often leading to viral moments of people discovering unknown siblings or biological parents.

But there was a problem: most customers only needed the test once. Despite efforts to launch a subscription service and license its data to drugmakers, the business never found a reliable revenue model.

Wojcicki even tried to steer the company into drug development—but that effort was crushed by rising interest rates, investor fatigue, and soaring R&D costs.

Wojcicki’s Last Stand
Wojcicki, who co-founded the company and held supervoting shares controlling 49% of the vote, made repeated attempts to buy the company back. But she couldn’t secure board approval—not once, but twice. Now that the company is in bankruptcy, her shares are effectively wiped out, and she is just another bidder in the court process.

In a post on X, Wojcicki said she still believes in 23andMe’s vision and remains committed to “establishing genetics as a core part of global healthcare”.

What Happens to Your DNA Data?
The company’s massive database of genetic information is now a central asset in the bankruptcy proceedings—raising serious privacy concerns. California’s attorney general has already issued a warning reminding consumers of their right to delete their data.

23andMe insists that any buyer must comply with privacy laws, but that hasn’t stopped a wave of users from trying to purge their information—overwhelming customer service and crashing parts of the company’s website.

From Celebrity Parties to Bankruptcy Court
23andMe’s early years were fueled by tech hype, investor enthusiasm, and even celebrity “spit parties,” where stars would show up to swab their DNA at glitzy launch events. Wojcicki, then dating Google co-founder Sergey Brin, helped catapult the brand into the public eye.

But behind the buzz was a fragile business model. After going public via SPAC in 2021, shares soared—then crashed. The company went through multiple layoffs, and its board eventually resigned en masse.

The End of the Road—or a New Chapter?
Joe Selsavage, the company’s chief financial officer, has been named interim CEO as 23andMe begins its restructuring under Chapter 11. It plans to continue operations for now, still processing DNA tests as it searches for a buyer.

But for a company that promised to help people understand who they are, the biggest mystery might be what comes next.