Takes the company public.
23andMe went public in 2021, jumping on the SPAC trend of the era, when a bunch of companies went public via “special purpose acquisition companies” — essentially shell-company mergers that let firms go public in a hurry when investor appetite is strong.
23andMe co-founder and CEO Anne Wojcicki, pictured in 2020.
Side note: I did my own 23andMe test, in 2019, motivated by a millennial compulsion to spend money on any product that promises to alleviate and/or deepen my corporeal angst.
23andMe has tried to convert one-time buyers into subscribers with the promise of continued feedback and personalized wellness plans.
Persons:
CNN Business ’, it’d, Anne Wojcicki, ”, It’s, Susan Wojcicki, 23andMe, Emma McIntyre, Oprah’s, there’s …, Wojcicki, “
Organizations:
CNN Business, New York CNN, Yale, Google, Wall Street, Wall Street Journal
Locations:
New York, Bay