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☆ 23andMe reports sales decline day after announcing plans to cut 40% of workforce
▼ + stars: | 2024-11-12 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +2 min

23andMe on Tuesday reported declining revenue in its most recent quarter, a day after the company said it will cut 40% of its workforce and shutter its therapeutics business as part of a business restructuring plan. The genetics company reported $44.1 million in revenue for the fiscal second quarter, down from $50 million in the same period last year. 23andMe's net loss narrowed to $59.1 million, or a $2.32 per share, from $75.27 million, or $3.17 per share, a year ago. It's evaluating strategic options like asset sales and licensing agreements to "maximize the value" of the therapeutic programs, the release said. Wojcicki has repeatedly stated her intention to take 23andMe private, though she didn't address the plans on Tuesday.

Persons: Anne Wojcicki, They've, 23andMe, Wojcicki Organizations: Nasdaq, NASDAQ, SEC

☆ 23andMe cuts 40% of its workforce, discontinues all therapy programs
▼ + stars: | 2024-11-11 | by ( Story Reuters | ) edition.cnn.com time to read: +1 min

CNN —Genetic testing firm 23andMe said on Monday it is reducing about 40%, or 200 employees, from its workforce and discontinuing further development of all its therapies as part of a restructuring program. “We are taking these difficult but necessary actions as we restructure 23andMe and focus on the long-term success of our core consumer business and research partnerships,” said CEO Anne Wojcicki. The company said it is evaluating strategic alternatives, including licensing agreements and asset sales, for its therapies in development. In July, the CEO and co-founder proposed to acquire all outstanding shares of the firm not already owned by her or her affiliates for 40 cents each. After Monday’s restructuring plan, the company expects annualized cost savings of more than $35 million.

Persons: 23andMe, ”, Anne Wojcicki Organizations: CNN

☆ 23andMe appoints new board members as it works to stem the company's slide
▼ + stars: | 2024-10-30 | by ( Lauren Edmonds | ) www.businessinsider.com time to read: +3 min

23andMe said it appointed three new independent directors to its board on Monday. Advertisement23andMe has appointed three new independent directors to its board following the mass resignation of all seven of its previous members last month. The seven previous board members resigned in September in a letter addressed to Wojcicki, citing the company's direction. Wojcicki shared a proposal to take 23andMe private in a July SEC filing, which was reviewed by a special committee formed by the board of directors. The special committee responded less than a week later, writing they were "disappointed" in the proposal.

Persons: 23andMe, —, Andre Fernandez, Mark Jensen, Jim Frankola, Fernandez, Jensen, Frankola, Anne Wojcicki, Kimberly White, Wojcicki Organizations: Service, SEC, Deloitte, 23andMe Board, Company, Business Locations: American

☆ 23andMe appoints three new board members following abrupt resignations
▼ + stars: | 2024-10-29 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +2 min

23andMe appointed three new independent directors to its board, the company announced Tuesday, one month after all seven of its previous directors abrubtly resigned. Fernandez, Frankola and Jensen will all serve on the board's audit committee and compensation committee, the company said. The company's stock was trading around $5 on Tuesday morning. To help 23andMe explore potential paths forward, the previous independent directors on the company's board formed a special committee in late March. In the weeks following the board members' departures, Wojcicki has repeatedly said she remains committed to taking the company private.

Persons: Anne Wojcicki, Kelly Sullivan, 23andMe, abrubtly, Andre Fernandez, Jim Frankola, Mark Jensen, Fernandez, Frankola, Jensen, Wojcicki Organizations: Deloitte, 23andMe Board, Company Locations: ATHERTON , CALIFORNIA, Atherton , California

☆ The rise and fall of 23andMe
▼ + stars: | 2024-10-20 | by ( Lauren Edmonds | ) www.businessinsider.com time to read: +1 min

2024: Wojcicki responds to consumer concernsWojcicki said she would not consider "third-party takeover proposals." Steve Jennings/Getty Images for TechCrunchThe company's reputation took another hit in September when an SEC filing said Wojcicki "would be open to considering third-party takeover proposals." "Accordingly, in order to update my prior statement and avoid any confusion in the market, I am no longer open to considering third-party takeover proposals for the Issuer." The Atlantic reported that the sale of 23andMe could also mean the potential sale of user data. A 23andMe spokesperson told BI that Wojcicki "has publicly shared she intends to take the company private, and is not open to considering third-party takeover proposals."

Persons: Wojcicki, Steve Jennings, Wojcicki's, Anne Organizations: Getty, SEC, Electronic Frontier Foundation

☆ 23andMe users are worried about what might happen to their data. Here's what the company says.
▼ + stars: | 2024-10-11 | by ( Jordan Hart | ) www.businessinsider.com time to read: +3 min

Some have called for users to delete data out of concern policies may change with new ownership. AdvertisementThe future of 23andMe is uncertain, and so is the fate of the data it has collected from millions of users. Business Insider asked the company itself, and a 23andMe spokesperson directed us to its privacy statement. The spokesperson added that 23andMe's privacy statement would apply "unless and until customers are presented with a new privacy statement by a new entity." In a different post, Eva Galperin, director of cybersecurity at Electronic Frontier Foundation, recommended 23andMe users request that their data be deleted.

Persons: —, Anne Wojcicki, she's, 23andMe, Anne, you've, Eva Galperin, it's Organizations: Service, Business, Electronic Frontier Foundation Locations: 23andMe

☆ 23andMe is floundering. Here is how to delete your data.
▼ + stars: | 2024-10-06 | by ( Lauren Edmonds | ) www.businessinsider.com time to read: +5 min

Here is how to delete your 23andMe data. A data breach notification filing in January said it took 23andMe five months to realize hackers had stolen the data. Here's how to ask 23andMe to delete your dataUsers who want their personal information removed from 23andMe can opt-out in the "23andMe Data" section in Account Settings. For users who participated in 23andMe Research, their genetic data and self-reported information won't be used in future research projects. "Deleting an account and associated data will permanently delete the data associated with all profiles within the account.

Persons: —, 23andMe, 23andMe's, Anne Wojcicki, Steve Jennings, Wojcicki, James Hazel Organizations: Service, 23andMe, Reuters, Company, Getty, Street Journal, SEC, Electronic Frontier Foundation, Research Locations: Crunchbase

☆ What happened to 23andMe?
▼ + stars: | 2024-09-20 | by ( Allison Morrow | ) edition.cnn.com time to read: +5 min

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

☆ Read the memo 23andMe's cofounder sent to staff after the entire board quit
▼ + stars: | 2024-09-19 | by ( Geoff Weiss | ) www.businessinsider.com time to read: +1 min

23andMe's board resigned over a 'distracting difference of view' with cofounder Anne Wojcicki. The board rejected an earlier proposal by Wojcicki to take the company private. Go to newsletter preferences Thanks for signing up! download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Advertisement23andMe's entire board of directors resigned from the company over cofounder and CEO Anne Wojcicki's ongoing plans to take it private.

Persons: 23andMe's, Anne Wojcicki, Wojcicki, —, Anne Wojcicki's Organizations: Service, Business

☆ 23andMe faces Nasdaq delisting
▼ + stars: | 2024-09-19 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email23andMe faces Nasdaq delistingCNBC's Deidre Bosa joins 'Money Movers' to discuss the latest updates on 23andMe's, following the exodus of several independent board members.

Persons: Bosa

☆ 23andMe faces Nasdaq delisting after its entire board resigns
▼ + stars: | 2024-09-19 | by ( Deirdre Bosa | ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email23andMe faces Nasdaq delisting after its entire board resignsCNBC's Deidre Bosa joins 'The Exchange' to report on the latest drama in 23andMe.

Persons: CNBC's Deidre Bosa Locations: 23andMe

☆ 23andMe CEO Anne Wojcicki 'surprised and disappointed' by board resignations: Read the memo
▼ + stars: | 2024-09-17 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +3 min

All seven independent directors of 23andMe resigned from the company's board Tuesday, a move that CEO Anne Wojcicki said left her "surprised and disappointed," according to a memo to employees. Wojcicki, who co-founded 23andMe in 2006, said she remains committed to taking the company private. Wojcicki wrote in the employee memo, which was viewed by CNBC, that she still sees taking 23andMe private as its "best opportunity for long term success." The company will begin a search for new independent directors to join the board, she added. AnneWATCH: 23andMe CEO files to take company private

Persons: Anne Wojcicki, 23andMe, Wojcicki, Here's, Anne Organizations: 23andme Inc, Southwest, CNBC, 23andMe, Board Locations: Austin , Texas

☆ 23andMe CEO Anne Wojcicki files proposal to take company private as stock craters
▼ + stars: | 2024-07-31 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +2 min

Anne Wojcicki, CEO of 23andMe , has submitted a proposal to take the genetic testing company private as its stock price continues to hover below $1. The proposed price of 40 cents per share reflects an 11% premium to 23andMe's closing stock price from April. 23andMe went public in 2021 via a merger with a special purpose acquisition company, which valued the company at around $3.5 billion. In November, the company received a deficiency letter from the Nasdaq Listing Qualifications Department, which said the company had 180 days to bring its share price back above $1. The Special Committee will need to approve or reject Wojcicki's proposal to take the company private, according to the filing Wednesday.

Persons: Anne Wojcicki, Wojcicki, 23andMe Organizations: U.S . Securities, Exchange Commission, Nasdaq, Department Locations: Sunnyvale , California

☆ I got tested for the BRCA gene mutation while I was pregnant. With my family history, I knew I wanted a double mastectomy regardless of the results.
▼ + stars: | 2024-07-08 | by ( Gila Pfeffer | ) www.businessinsider.com time to read: +9 min

Named for the first two letters of "breast" and "cancer," a positive result would place my odds of developing breast cancer at 87%. For me, an adult, it was a wake-up call to get ahead of breast cancer. We also had a family history of breast cancer in common, but her mother, who'd been diagnosed in her 20s, had caught it early and survived. And most important of all, on a scale of one to infinity, how relieved did she feel now that breast cancer was no longer a threat? I asked for the BRCA test, and my doctor agreedDuring my next prenatal checkup, I asked my doctor to arrange a BRCA test.

Persons: —, I'd, Stephanie, Angelina Jolie, who'd, Bikur Cholim, she'd, Gila Pfeffer Organizations: Service, Business, Genome, The New York Times Locations: The

☆ Opinion | Sean Penn, Rebel With Many Causes
▼ + stars: | 2024-06-22 | by ( Maureen Dowd | ) www.nytimes.com time to read: +1 min

Don’t mellow my harsh, dude. I hurried past Penn’s three surfboards and silver Airstream in the front yard, half expecting to see the un-pacific denizen of the Pacific Coast wrestling on the floor with the photographer. Penn, in dark T-shirt, Columbia utility pants and sneakers, was charming, trailed by his adoring dogs, a golden retriever and a German shepherd rescue puppy. When I joked that I was relieved to see him treating the photographer sweetly, he laughed. “When I did my 23andMe,” he said, “I thought I might be part Hopi because they don’t like to be photographed.”

Persons: Sean Penn, Hollywood hothead, Jeff Spicoli, Penn, “, ” Organizations: Hollywood, Times, Pacific Locations: Ridgemont, Columbia, German

☆ Wealthy Americans are starting to spend more carefully
▼ + stars: | 2024-05-19 | by ( Bryan Mena | ) edition.cnn.com time to read: +7 min

A robust stock market coupled with rising home values have boosted Americans’ wealth from 2019 through 2022, according to a Federal Reserve report on household finances. There’s been some evidence of wealthy Americans growing cautious in the latest round of company earnings results. Federal Reserve officials Michael Barr, Christopher Waller, Philip Jefferson and Raphael Bostic deliver remarks. Federal Reserve officials Christopher Waller, John Williams, Raphael Bostic, Michael Barr, Loretta Mester and Susan Collins deliver remarks. The Federal Reserve release minutes from its May policymaking meeting.

Persons: they’ve, “, ” Nanette Abuhoff Jacobson, There’s, ” Jonathan Akeroyd, Moet, The Beverly Hilton, Michael Kovac, LVMH Moët Hennessy Louis Vuitton, ”, Jacobson, ’ Ariel Barnes, Barnes, ” Barnes, Baby Boomer, Xers, Matt Egan, Read, Michael Barr, Christopher Waller, Philip Jefferson, Raphael Bostic, John Williams, Loretta Mester, Susan Collins, Robin, Ralph Lauren, Booz Allen Hamilton, Buckle Organizations: CNN Business, Bell, Washington CNN, Federal, Fed, Hartford Funds, CNN, Burberry, The Beverly, The Beverly Hilton Hotel, Walmart, Royal Caribbean Cruises, Jackson State University, Federal Reserve Bank of New, Palo Alto Networks, Urban Outfitters, NVIDIA, National Statistics, National Association of Realtors, Reserve, Intuit, US Labor Department, Chicago Fed, Global, US Commerce Department, Atlanta Fed, Booz, University of Michigan Locations: Washington, British, Americas, Beverly Hills , California, Jackson , Mississippi, Federal Reserve Bank of New York, Palo, Ross, Burlington

☆ 23andMe's business is basically worthless. Its CEO now wants to buy it.
▼ + stars: | 2024-04-18 | by ( Geoff Weiss | ) www.businessinsider.com time to read: +1 min

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

☆ Fed-up 23andMe users lash out at the company, accusing it of scamming them into auto-renewal
▼ + stars: | 2024-03-13 | by ( Grace Eliza Goodwin | ) www.businessinsider.com time to read: +3 min

Read previewIf you think you've been charged for a 23andMe subscription renewal even though you know you cancelled it, you're in good company. The Federal Trade Commission released over a hundred complaints that 23andMe users had submitted since the beginning of 2023, after Gizmodo submitted a FOIA request for the documents. In many of those complaints, some of which Gizmodo published, users detailed renewal practices that they considered dubious and unethical. I turned off the auto-renewal, which this company does not make easy to do and does not send a confirmation about. A spokesperson for 23andMe told Gizmodo that the company does send a notification to customers 30 days before their subscription is set to renew.

Persons: —, you've, Gizmodo, 23andMe, Reddit Organizations: Service, Fed, Business, Federal Trade Commission, 23andMe

☆ Palo Alto Networks shares drop most since 2012 IPO
▼ + stars: | 2024-02-21 | by ( Jordan Novet | ) www.cnbc.com time to read: +3 min

Nikesh Arora, CEO of Palo Alto Networks, speaks on CNBC's "Squawk Box" at the WEF Annual Meeting in Davos, Switzerland, on Jan. 16, 2024. Palo Alto Networks shares dropped 28% on Wednesday, the worst trading session since the cybersecurity hardware and software maker's 2012 initial public offering. The company lowered its full-year billings outlook to a range of $10.1 billion to $10.2 billion, from $10.7 billion to $10.8 billion. The revenue guidance moved to a range of $7.95 billion to $8 billion, from $8.15 billion to $8.2 billion. WATCH: Chart of the Day: Palo Alto Networks

Persons: Nikesh Arora, Palo, Wells, Andrew Nowinski, Stefan Schwarz, Arora, — CNBC's Rohan Goswami Organizations: Palo Alto Networks, MGM Resorts, Defense, Systems, Rosenblatt Securities, Palo Alto Locations: Davos, Switzerland, 23andMe, U.S, Palo, billings

The near-absence of laws criminalizing the practice of fertility fraud until recently means no doctors have yet been criminally charged for the behavior. In 2019, Indiana became the second state, more than 20 years after California, to pass a statute making fertility fraud a felony. He added some of his biological children have “expressed gratitude for their existence” to him and even sent him photos of their own children. Cline’s case spurred lawmakers to pass legislation that outlawed fertility fraud but wasn’t retroactive, meaning he was never prosecuted for it. “In fertility fraud, no parent is saying that – no parent is saying I would have gotten an abortion,” she said.

Persons: Hill, –, Burton Caldwell, “, ” Hill, we’ve, ”, Jody Madeira, Laura Oliverio, wasn’t, Eve Wiley, Marvin Yussman, Yussman, Victoria Hill, ” Yussman, Dr, Donald Cline, general’s, Cline, Stephanie Bice, Mikie Sherrill, New Jersey Democrat –, Kelly Wilkinson, Katherine L, Kraschel, Julia T, Woodward, Laura High, we’re, ’ Let’s, it’s, let’s, OBGYN Narendra Tohan, isn’t, Tohan, ‘, Janine Pierson, Doreen Pierson, Caldwell –, Doreen, Alyssa Denniston, Caldwell, Pierson, ” Pierson, she’d, doesn’t, texted, Jamie LeRose, Maralee Hill, Victoria, Sean Tipton, Tipton, Caldwell “, didn’t Organizations: CNN, Indiana University, Savin Rock, CNN CNN, Netflix, Oklahoma Republican, New, New Jersey Democrat, Indianapolis Star, DC, Northeastern University, Duke University Health System, CNN Fertility, United, American Society for Reproductive Medicine, Seagulls Locations: Connecticut, Savin Rock Beach, West Haven , Connecticut, Indiana, California, Kentucky, Wethersfield , Connecticut, Oklahoma, New Jersey, Indianapolis, Wethersfield, New Britain, Madeira, Yale, Victoria, Hartford , Connecticut, Victoria Hill's, Norwalk, Norway, Germany, United States, Cheshire, New Haven

☆ I have the same last name as a celebrity, so people think we're related. I met him once and he asked if we could be.
▼ + stars: | 2024-02-11 | by ( Michael Arkin | ) www.businessinsider.com time to read: +3 min

But it comes with some pitfalls: In school, when my teacher called on Michael, six kids would answer. And it's my last name, Arkin, that always elicits the question, "Are you related to him?" As far back as I can remember, long before 23andMe could verify if we were or weren't related (were weren't), nearly everyone has asked that question or, better yet, "Are you one of the Arkins?" When I handed my credit card to the saleswoman, she looked at the name and asked the usual question. When he heard my name, his brow knitted, and with his signature intensity, he asked, "Do you think we could be related?"

Persons: David, Michael, Lucas, Reilly, Wyatt, Michel, Mischa, Miguel, It's, it's, I've, Alan Arkin, Michaels, Arkin, Alan, Adam, Oscar Organizations: Starbucks, Paramount Pictures, Marketing, Sundance Locations: United States

☆ 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

☆ This startup wants to find cancer faster with AI-powered full-body scans. See the 22-slide pitch deck that got Ezra $21 million.
▼ + stars: | 2024-02-08 | by ( Rebecca Torrence | ) www.businessinsider.com time to read: +4 min

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

☆ Premarket stocks: Main Street is still investing like it’s 2023
▼ + stars: | 2024-02-05 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +10 min

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

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