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23andMe cofounder and CEO Anne Wojcicki wants to take the once-hot DNA company private. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Advertisement23andMe — the struggling DNA company once valued in the billions — was essentially worthless as of Wednesday. But in a filing late Wednesday, Anne Wojcicki revealed she wants to buy back the company she cofounded in 2006 and take it private. This story is available exclusively to Business Insider subscribers.
Persons: Anne Wojcicki, 23andMe, , Wojcicki Organizations: Service, SEC, Business
23andMe CEO Anne Wojcicki considers taking company private
  + stars: | 2024-04-18 | by ( Ashley Capoot | In | ) www.cnbc.com   time to read: +2 min
Anne Wojcicki, the CEO of 23andMe , is considering a proposal to take the genetic testing company private after its stock price tumbled more than 95% from its 2021 highs. She "wishes to maintain control" of the company and will "not be willing to support any alternative transaction," the filing said. 23andMe went public in 2021 via a merger with a special purpose acquisition company, which valued the company at around $3.5 billion. The company's board of directors formed a "Special Committee" in late March to help explore options that could juice the stock. "The Special Committee is committed to acting in the best interests of 23andMe and its shareholders."
Persons: Anne Wojcicki, Wojcicki, 23andMe, Wells Organizations: Securities and Exchange Commission, Nasdaq, Department Locations: Wells Fargo
The Breakthrough Prize Awards were hosted in Los Angeles on Saturday. Nicknamed the "Oscars of Science," the ceremony brought together an array of famous faces. From Kim Kardashian to Elon Musk, here's a look at eight of the best-dressed attendees. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementThe Breakthrough Prize Awards, dubbed the "Oscars of Science," took place in Los Angeles on Saturday.
Persons: Kim Kardashian, Elon Musk, , Mark Zuckerberg, Sergey Brin, Anne Wojcicki, Carl H Organizations: Service, Business Locations: Los Angeles
Sergey Brin once hosted a bizarre baby shower featuring oversize diapers and adult onesies. Brin, who stepped back from Alphabet in 2019, has returned to help shape Google's AI strategy. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementGoogle cofounder Sergey Brin once hosted a bizarre baby shower where guests wore oversized diapers and adult-sized onesies.
Persons: Sergey Brin, Kara Swisher's, Brin, , Kara Swisher, San Francisco soiree, Swisher, Wendi Deng, Rupert Murdoch, Anne Wojcicki, Gavin Newsom, Newsom, Larry Page, John Doerr, she'd, Page Organizations: Service, San, Francisco, Business, Microsoft Locations: San Francisco
23andMe considers splitting up company to revive stock price
  + stars: | 2024-02-08 | by ( Ashley Capoot | In | ) www.cnbc.com   time to read: +3 min
Shares of 23andMe sank 21% on Thursday, a day after the genetic testing company reported dismal fiscal third-quarter results and discussed splitting itself in two to help juice its stock price. 23andMe reported revenue of $45 million for the quarter, down from the $67 million it reported in the same period last year. The five-time CNBC Disruptor 50 company went public in 2021 via a merger with a special purpose acquisition company, a deal that valued the company at around $3.5 billion. The company has launched additional therapeutics and research businesses, but its share price has tumbled more than 95% from its peak. They lowered their target price for the stock to 85 cents from 90 cents.
Persons: 23andMe, Anne Wojcicki, Sergey Brin, Forbes, Joe Selsavage, Selsavage Organizations: TechCrunch, 23andMe, Nasdaq, U.S . Securities, Exchange Commission, CNBC Disruptor, Citi, CNBC PRO Locations: San Francisco , California, 23andMe
Read previewLast August, Kim Kardashian posted on Instagram that she'd gotten a full-body MRI scan from the startup Prenuvo, which sparked a national conversation about the merits of preventive imaging. With Kardashian's help, the scans were finally making headlines — and healthtech startup Ezra felt their impact. "The day that Kim Kardashian got a scan, even though it wasn't an Ezra scan, our day-over-day revenue spiked," Ezra CEO and cofounder Emi Gal told Business Insider. Those tailwinds have propelled growth for Ezra, which partners with radiology clinics to perform full-body MRI scans. And, with Ezra's scans, that startup has "helped hundreds of people find cancer," he added.
Persons: , Kim Kardashian, she'd, Ezra, Emi Gal, Amir Dan Rubin, Anne Wojcicki, Vlad Tenev, David Prior, Esther Dyson, — Gal, Ezra Flash, radiologists, Gal, We've Organizations: Service, Business, VC, FirstMark, Firms, Allianz Life Ventures, Mana Ventures, Ventures, Seedcamp, LDV Locations: Gaingels, Republic
Before the Bell spoke to Joe Mazola, director of Schwab Trader Education, about the growing importance of retail investors in markets, where Main Street is investing and why people are still enamored with Elon Musk. Why is it so important to single out retail investors and track where they’re putting their money? Is there a big difference between what retail investors and institutional investors are doing right now? That means the Fed is due to cut rates in 2024, which officials themselves projected in December. We just want some more confidence before we take that very important step of beginning to cut interest rates,” he told “60 Minutes” correspondent Scott Pelley.
Persons: Elon Musk’s, Tesla, Charles Schwab, Schwab, Bell, Joe Mazola, Elon Musk, Joe Mazzola, it’s, they’re, there’s, They’ve, Powell, Jerome Powell, “ We’ve, ” Powell, , Price, , Scott Pelley, Read, 23andMe, Anne Wojcicki, ” Wojcicki, they’ve, Wojcicki Organizations: CNN Business, Bell, New York CNN, Tesla, Big Tech, Nvidia, Amazon, Microsoft, Devices, Schwab Trader Education, Elon, Treasury, Federal Reserve, Investors, CBS, Fed, Nasdaq, CNN Locations: New York, Street, Silicon Valley
New York CNN —Just three years ago, DNA testing company 23andMe was the golden child of Wall Street and Silicon Valley. In 2018, 23andMe agreed to a five-year exclusive drug development partnership with GSK (formerly GlaxoSmithKline). Genetic testing company 23andMe, once valued at $6 billion, is facing the possibility of delisting from NASDAQ. Justin Sullivan/Getty ImagesSo far, the partnership between GSK and 23andMe has produced more than 50 new drug targets. But drug discovery is a very long process and it can be anywhere from 10 to 15 years on average from target discovery to an FDA-approved drug.
Persons: New York CNN —, 23andMe, Anne Wojcicki, ” Wojcicki, , Susan Wojcicki, Sergey Brin, Kyle Grillot, Wojcicki, they’ve, , we’re, “ We’ve, Steven Mah, TD Cowen, Mah, they’re, Justin Sullivan Organizations: New, New York CNN, Nasdaq, CNN, Stanford, Palo Alto High School, YouTube, Google, 23andMe Inc, Bloomberg, Time Magazine, P Biotech ETF, GSK, GlaxoSmithKline, NASDAQ, Big Pharma, it’s Locations: New York, Silicon Valley, Los Angeles , California, U.S, London, Sunnyvale , California, United States
Yumi, a startup backed by a long list of prominent Silicon Valley investors that makes high-end organic baby food, is raising a down round that values the company at around $40 million, Business Insider has learned. The funding represents a substantial discount from Yumi's Series B round in 2021, which valued the company at more than $300 million, according to Pitchbook data. It also means Yumi has burned through more than twice as much cash, nearly $90 million dollars, as it is currently worth. Startup fundraising tumbled to a five-year low in 2023 with funding for e-commerce and shopping startups down 60%, according to Crunchbase data. Convoy, the freight startup that was once called the "Uber for trucking" and raised more than $1 billion, shut down in November.
Persons: Yumi, Evelyn Rusli, Angela Sutherland, Gerber, Sutherland, Rusli, Anne Wojcicki, Gabrielle Union, Warby Parker, Goldman Sachs, Christina Minnis, Kelly Coffey, Masha Drokova, Lauren Dillard Organizations: Business, BI, Walmart, New York Times, Wall Street Journal, New Enterprise Associates, Uber, City National Bank, One Ventures, Nasdaq, Startup, Convoy, Olive Locations: millennials
Orchid, a startup that tests embryos for genetic diseases, has just raised $12 million. "The way that IVF and embryo screening works today is the amount of information available is really limited," Orchid CEO and cofounder Noor Siddiqui said. Genetic testing has been around for years, but it has been usually limited in the diseases it can identify, which include cystic fibrosis, Bloomberg reported. Orchid produces reports with two types of genetic testing: monogenic and polygenic. The cost of the test depends on the number of embryos that Orchid tests.
Persons: Noor Siddiqui, Siddiqui, Orchid, Dylan, Anne Wojcicki, Fidji Simo, Peter Kraft Organizations: Business, Bloomberg, Prometheus Fund, Starbloom Capital, One Ventures, Los Angeles Times Locations: San Francisco, Pebblebed
Prenuvo MRI machine Courtesy of PrenuvoWhile celebrating the July Fourth holiday last year on a boat in Tyler, Texas, Dr. Julianne Santarosa received the results from her full-body MRI scan. In addition to full-body scans, Prenuvo offers a head and torso scan for $1,800 and a scan of just the torso for $1,000. Some companies have started offering Prenuvo scans as a perk for employees, which has helped increase access to the technology. Medical experts caution that, in addition to the steep price, full-body MRI scans won't catch everything and aren't meant to replace targeted screenings like colonoscopies and mammograms. He found a radiologist who was offering an early version of a full-body MRI scan.
Persons: Julianne Santarosa, hadn't, she'd, Santarosa, Kim Kardashian, Cindy Crawford, Eric Schmidt, 23andMe, Anne Wojcicki, Tony Fadell, Andrew Lacy, Lacy, it's, Prenuvo, Jasnit, Dr, Kimberly Amrami, Amrami, It's, Prenuvo Lacy, Eduardo Dolhun, Dolhun Organizations: CNBC, Facebook, Google, Nest Labs, Felicis Ventures, U.S . Food, Drug Administration, Association of American Medical Colleges, Columbia University Medical Center, Mayo Clinic Rochester, Mayo Clinic Locations: Tyler , Texas, Prenuvo, Dallas, U.S, Canada, London, Sydney, New York, Los Angeles, Irving, New York City , New York, York, San Francisco, Vancouver, British Columbia
Attendees purchase DNA kits at the 23andMe booth at the RootsTech annual genealogical event in Salt Lake City, Utah, U.S., February 28, 2019. REUTERS/George Frey/File Photo Acquire Licensing RightsWASHINGTON, Oct 20 (Reuters) - The top Republican on the U.S. Senate's health committee has called on the chief executive of 23andMe (ME.O) to provide the panel with details after data from the family genetics website was advertised for sale on the dark web. Senator Bill Cassidy, the ranking member on the Senate Health, Education, Labor, and Pensions Committee, expressed concerns in a letter to CEO Anne Wojcicki, and asked for more information. A hacker advertised 23andMe data earlier this month, but 23andMe said in a statement that the company itself had not been breached. Reporting by Susan HeaveyOur Standards: The Thomson Reuters Trust Principles.
Persons: George Frey, Bill Cassidy, Anne Wojcicki, 23andMe, Susan Heavey Organizations: REUTERS, Rights, Republican, 23andMe, Senate Health, Education, Labor, Pensions, Thomson Locations: Salt Lake City , Utah, U.S
User data from 23andMe accounts has been leaked and put up for sale on a dark web forum. The data appears to have been gathered from user credentials that were exposed in prior data breaches, and the company's security systems have not been breached, according to 23andMe. In other words, the hackers plugged in leaked username-password combinations into 23andMe accounts in a technique known as "credential stuffing." Those with European or Ashkenazi ancestry are likely to have many matches via the DNA Relatives feature compared to people with Asian or Middle Eastern ancestry, 23andMe also notes on its website. The company — which shares anonymized user data with their consent with third parties — is encouraging users to enable multi-factor authentication to prevent further attacks.
Persons: , Mark Zuckerberg, Sergey Brin, Elon Musk, Anne Wojcicki —, Susan Wojcicki, 23andMe Organizations: Service, Wired
Not long after founding the startup, Gaon shared his vision with famed venture capitalist Marc Andreessen. It was notable to Gaon at the time that Andreessen — "one of those investors who's known for seeing where the market is going" — appeared to have pinpointed loneliness as its own market. That moved her parents, Cindy and Anne Jordan, who had sold their first healthtech company years before, to found the Arizona company Pyx Health. "The loneliness crisis is bigger, and more urgent, than anything I've worked on before," Nyborg wrote in a blog post. Inspired debuted a thesis in 2020 that identified loneliness as a key focus for the firm to invest in.
Persons: Benjamin Gaon, Boaz Gaon, Benny, Gaon, Marc Andreessen, Andreessen, Wisdo, , Anne Wojcicki, Marius Nacht, Andreessen Horowitz, Vivek Murthy, Betsy Hoover, Bumble, Rylie Sarabia, Cindy, Anne Jordan, policyholders, Dawn Owens, it's, Owens, Julie Rice, Elizabeth Cutler, Rice, Peoplehood, Phil Levin, Levin, Culdesac, Renate Nyborg, I've, Nyborg, Hugo Amsellem, He's, Ava, Catalyst, Nate Tepper, Tepper, Adam Besvinick, Frances Haugen, Hoover, Alexa von Tobel, von Tobel, David Spinks Organizations: Pyx, Labs, verve, Investors, Pyx Health, TT Capital Partners, New, Khosla Ventures, Sequoia Capita, AI Fund, NEA, AIs, Looking Glass, Anonymous, Glass, Facebook, Bloomberg Locations: Arizona, Minneapolis, New York, Ava, France, Peoplehood, Hopscotch
Sergey Brin filed for a divorce from his second wife, Nicole Shanahan, in January 2022. Affair allegations about Shanahan and Elon Musk sparked the split, The Wall Street Journal reported. Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily. The two met at a yoga retreat in 2015, The Wall Street Journal reported last year. AdvertisementAdvertisementUnder the terms of their divorce, Shanahan and Brin are set to split legal and physical custody of their daughter, now 4.
Persons: Sergey Brin, Nicole Shanahan, Shanahan, Elon Musk, Brin's, Brin, Musk, Tesla, Larry Page, Sergey, Nicole, she'd, Anne Wojcicki Organizations: Street Journal, Service, Street, Echo Foundation, Twitter Locations: Wall, Silicon
Eureka Health is building a platform to help patients with chronic conditions find new treatments. Eureka Health used this 11-slide pitch deck to land $7 million in a round led by Khosla Ventures. Eureka Health seeks to give patients with chronic conditions a community to find new treatments based on reports of what other patients have tried. Then, Eureka patients can log how effective a specific treatment was for their symptoms, as well as any side effects they may have experienced. Eureka Health provided Insider with the deck it used to raise $7 million in seed funding.
Persons: Zain Memon, Noah MacCallum, Memon, MacCallum, Anne Wojcicki, Susan Wojcicki, Eureka, we're Organizations: Eureka Health, Khosla Ventures, Health, South Park, SciFi, Able Partners, Bow, 23andMe, South Locations: Eureka, South Park
Google parent Alphabet has pared back large positions in multiple publicly traded firms, including the trading platform Robinhood , the gene testing company 23andMe and language learning startup Duolingo . The company dumped nearly 90% of its stake in Robinhood, according to SEC filings. The company sold off more than 4.3 million shares of the fintech stock during the period ending June 30. Robinhood posted its first profit as a publicly traded company on Aug. 2. Alphabet still held about 612,000 shares of Robinhood as of June 30.
Persons: Robinhood, Anne Wojcicki, Sergey Brin Organizations: SEC, Wall, Google Locations: Robinhood, Duolingo, 23andMe
Christopher Willard | Walt Disney Television | Getty ImagesOn the advantage of being an underdog: I grew my business in a man's world. There were no businesses in New York City, especially in real estate, that were owned by women. There weren't any women role models, and the men weren't very forthcoming [with advice]. When I was just starting out, I went to a community business event and none of the men would even talk to me. On why she likes to partner with women in business: Women are more willing to listen [than men], and they're not as cocky they'll be an instant success.
Believing in yourself has immeasurable value, says Anne Wojcicki. "It's helpful for people to realize the world is often wrong," she tells CNBC Make It. "When you're swimming upstream, it's hard and you're going to have people telling you it's a bad idea or you're not capable," Anne says. Many of those close relationships remain: Anne says she and her two sisters all still "have the same friends from early elementary school." 1 best piece of advice for regular investors, do's and don'ts, and three key investing principles into a clear and simple guidebook.
The grades you got in school don't really matter, says educator and bestselling author Esther Wojcicki. "The number one way I think we need to [encourage creative students] is we need to cut the importance of grades." Wojcicki's decades of teaching high school taught her that good grades are overrated, and not a significant indicator of a child's future success. Yet they're an important factor in how the country's education system views students' success and determines their future opportunities, she said in Dubai. "Everybody is fighting for grades and those grades lead to college, and if you don't have those grades you cannot go," Wojcicki said.
Anne Wojcicki is the sister of Susan Wojcicki, who announced she was stepping down as YouTube's CEO on Thursday. Anne Wojcicki co-founded the genetic testing company 23andMe after a career on Wall Street. While the focus right now is on Susan Wojcicki — who announced that she was stepping back from her role as YouTube's longtime CEO on Thursday — her younger sister Anne, is a tech industry veteran in her own right. Anne Wojcicki co-founded the genetic testing company 23andMe in 2006, and took the company public in June 2021 through a merger with a special purpose acquisition company. Here's a look back at Anne Wojcicki got her start and built a genetic-testing empire.
Even before their retirement from Google, Page and Brin relied heavily on their respective family offices to bring order to their worlds. The Bay Area headquarters of Koop, Larry Page's family office, is nondescript and gives little indication of the billionaire's empire. Insider; Marianne Ayala/Insider Show less Bayshore Global Management, Sergey Brin's family office, is based in Palo Alto and has a bit more of a public face. Insider; Marianne Ayala/Insider Show lessThe difference in styles holds true for Brin's family office, Bayshore Global Management. The CEO of Page's family office is Wayne Osborne, a former elder in the Presbyterian Church who attended Princeton Theological Seminary.
"We are the Underground Railroad of 'Gattaca' babies and people who want to do genetic stuff with their kids," Malcolm told me. Ellison, meanwhile, who has two children in their 30s, has reportedly resumed having kids — with his 31-year-old girlfriend. "The person of this subculture really sees the pathway to immortality as being through having children," Simone said. The person of this subculture really sees the pathway to immortality as being through having children. Before she met Malcolm, Simone was convinced she wanted to live her life single and child-free.
Only five have signed up for The Giving Pledge in 2022, down from 14 last year. The Giving Pledge was founded by Bill Gates, Melinda French Gates and Warren Buffett in 2010 when dozens of America's wealthiest people pledged to donate the bulk of their fortune to help solve problems in society. Jeff Bezos, ranked by Forbes as the world's second-richest person worth $171 billion, is noticeably missing from The Giving Pledge. She said in her pledge letter that giving money away has "richly rewarded" her. The Giving Pledge did not respond to Insider's request for comment.
Here are the presentations obtained by Insider that healthcare startups have used to raise millions. Even so, healthcare startups raised $15.8 billion in the first half of the year, according to Silicon Valley Bank. Insider rounded up all the presentations we've published that healthcare startups have used to raise cash from investors. For instance, check out the 13-slide presentation heart-health startup Miga Health used to raise $12 million in seed funding. Brightside used this presentation to break through a crowded field of mental health startups and convince VCs to invest $24 million.
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