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☆ 23andMe is low on cash and its stock is worth pennies. The CEO wants another chance
▼ + stars: | 2024-02-02 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

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

☆ Exclusive: Organic baby food startup Yumi has slashed its valuation after running low on cash
▼ + stars: | 2024-01-31 | by ( Ben Bergman | ) www.businessinsider.com time to read: +3 min

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

The genetic testing company 23andMe is being accused in a class-action lawsuit of failing to protect the privacy of customers whose personal information was exposed last year in a data breach that affected nearly seven million profiles. The lawsuit, which was filed on Friday in federal court in San Francisco, also accused the company of failing to notify customers with Chinese and Ashkenazi Jewish heritage that they appeared to have been specifically targeted, or that their personal genetic information had been compiled into “specially curated lists” that were shared and sold on the dark web. The suit was filed after 23andMe submitted a notification to the California Attorney General’s Office that showed the company was hacked over the course of five months, from late April 2023 through September 2023, before it became aware of the breach. According to the filing, which was reported by TechCrunch, the company learned about the breach on Oct. 1, when a hacker posted on an unofficial 23andMe subreddit claiming to have customer data and sharing a sample as proof. The company first disclosed the breach in a blog post on Oct. 6 in which it said that a “threat actor” had gained access to “certain accounts” by using “recycled login credentials” — old passwords that 23andMe customers had used on other sites that had been compromised.

Persons: 23andMe, ” Organizations: California Attorney General’s, TechCrunch Locations: San Francisco, California

☆ 23andMe took 5 months to realize hackers had stolen data from customer accounts
▼ + stars: | 2024-01-26 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +3 min

Advertisement23andMe customer accounts were breached by hackers last year, but it took the DNA testing company five months to detect the intrusion. The company learned about the attack after stolen customer data was advertised on Reddit, as well as on the darkweb forum BreachForums, per the filing. The filing stated: "On October 10, we required all 23andMe customers to reset their password. 23andMe previously told Business Insider that the hackers gained access to customer data through " credential stuffing ." 23andMe didn't immediately respond to a request for comment from Business Insider, made outside normal working hours.

Persons: 23andMe, didn't, —, 23andMe didn't Organizations: Service, TechCrunch, Business

☆ 23andMe data breach affects nearly nearly 7 million 23andMe customers
▼ + stars: | 2023-12-05 | by ( Sean Lyngaas | ) edition.cnn.com time to read: +2 min

CNN —A hacker or hackers have accessed nearly seven million profiles of 23andMe customers, a spokesperson for the genetic testing firm told CNN on Tuesday, including in some cases users’ ancestry reports, zip codes and birth years. In addition, the hackers accessed a subset of family tree information on 1.4 million DNA Relatives profiles, the 23andMe spokesperson said in an emailed statement. In the case of 23andMe, the hackers reused old usernames and passwords from other websites to break into 23andMe customer accounts — a rudimentary but effective technique called credential stuffing. The 23andMe spokesperson, who declined to be named, did not respond to questions about who carried out the hack. “We have taken steps to further protect customer data, including requiring all existing customers to reset their password and requiring two-step verification for all new and existing customers.”

Persons: Okta, 23andMe, ”, “ Organizations: CNN, Securities and Exchange Commission, Engadget Locations: 23andMe

☆ Orchid tests embryos for genetic diseases. It just raised $12 million with this 11-slide pitch deck.
▼ + stars: | 2023-12-05 | by ( Riddhi Kanetkar | ) www.businessinsider.com time to read: +4 min

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

☆ Parents who raised highly successful children say you need to do these 3 things
▼ + stars: | 2023-11-29 | by ( Kristina Puga | ) www.businessinsider.com time to read: +5 min

They also advised modeling hard work and integrity. Three parents whose kids grew up to be impressive adults say parents should do three things to raise successful children. 1 goal was to teach them to believe in themselves, and I started that when they were born," Wojcicki told Business Insider. Martinez said she had her sons work as early as 7 years old, even if just for a few hours. She said they worked the coat check at her restaurant because she wanted them to learn the value of hard work and independence.

Persons: who've, —, Esther Wojcicki, Susan, Anne, Janet, Wojcicki, Mister Rogers, Zarela Martinez, Aarón Sánchez, Martinez, Ana, who'd, Pico Rivera, Cristian, Alex, César Jr, Roldán, childhoods Organizations: Service, Palo Alto High School Media Arts, YouTube, Business, Los Angeles ., Major League Soccer, Seattle Sounders, LA Galaxy Locations: New York, Guatemala, El Salvador, Pico, Los Angeles

☆ Patients are lining up for $2,500 full-body MRI scans that can detect cancer early
▼ + stars: | 2023-11-10 | by ( Ashley Capoot | ) www.cnbc.com time to read: +10 min

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

☆ October slammed biotech stocks, and these 3 hedge funds couldn't escape the pain
▼ + stars: | 2023-11-08 | by ( Bradley Saacks | ) www.businessinsider.com time to read: +1 min

Biotech hedge funds couldn't escape a tough October, sources told Insider. Managers like Perceptive Advisors and RTW Investments lost more than 9% in just a month's time. While big-name hedge funds were able to avoid some of the market's pain last month, biotech specialists were hit hard. Some funds, including Perceptive Advisors, RTW Investments, and San Francisco-based Redmile Group, had a tough October thanks to pain across the biotech space, according to sources familiar with their performance. The flagship fund at $8 billion Perceptive Advisors, run by billionaire Joseph Edelman, lost 9.5% in the month, bringing its yearly performance to a loss of 8.7%.

Persons: Joseph Edelman, Davidson Kempner, Roderick Wang Organizations: Biotech, RTW Investments Locations: Moderna, San Francisco

Its "SmartListen" feature uses patented AI-powered voice control to allow users to interact with videos in real-time. Adventr founder Devo Harris was previously a Grammy award-winning producer and music executive, who worked with artists like Kanye West and John Legend. The following week, Harris uploaded the same video but added interactive buttons so users could choose which scene to watch next. 23andMe used Adventr to let its customers ask a video of a genetic counselor whether they're likely to inherit a disease their parent has, for example. In the next six to 12 months, Harris says Adventr wants to incorporate more large language models and generative AI technology to make its voice controls more sophisticated.

Persons: Adventr, Devo Harris, John Legend, Siri, Kanye, Harris, X, 23andMe, they're Organizations: Paladin, Reinventure, Ventures, YouTube, Chevy, Disney, Twitter Locations: York, Adventr, Paris

SEATTLE (AP) — An Idaho woman is suing her one-time fertility doctor, saying he secretly used his own sperm to inseminate her 34 years ago — the latest in a string of such cases brought as at-home DNA sampling enables people to learn more about their ancestry. He charged $100 cash for each of several treatments, saying the money was for the college or medical students who were donating the sperm, the lawsuit said. But the newspaper reported that Claypool claimed he had no knowledge of the allegations and didn't know Sharon Hayes. “But this is the first I’ve heard of anything in 40 years.”A number of cases of “fertility fraud” have arisen as online DNA services have proliferated. A Colorado jury awarded nearly $9 million to three families who accused a fertility doctor of using his own sperm to inseminate mothers who requested anonymous donors.

Persons: Sharon Hayes, David R, Claypool, Brianna Hayes, 23andMe, “ It's, ”, Hayes, Drew Dalton, Dalton, didn't, “, ” Claypool, RJ Ermola Organizations: SEATTLE, Spokane County Superior Court, Associated Press, AP, Claypool, Seattle Times, New York Times, Netflix Locations: An Idaho, Hauser , Idaho, Spokane , Washington, Spokane County, U.S, Indiana, Colorado

☆ 23andMe notifies customers of data breach into its 'DNA Relatives' feature
▼ + stars: | 2023-10-24 | by ( Zeba Siddiqui | ) www.reuters.com time to read: +2 min

SAN FRANCISCO, Oct 24 (Reuters) - Genetics testing company 23andMe (ME.O) on Tuesday sent emails to several customers to inform them of a breach into the "DNA Relatives" feature that allowed them to compare ancestry information with users worldwide. In the new emails, a copy of which was seen by Reuters, 23andMe told customers there was a breach of one or more accounts connected to theirs through the "DNA Relatives" feature. "There was unauthorized access to one or more 23andMe accounts that were connected to you through DNA Relatives," the company told customers in the email on Tuesday. "As a result, the DNA Relatives profile information you provided in this feature was exposed to the threat actor." loadingEarlier, the company had said hackers may have used credentials leaked from other websites to breach 23andMe accounts - a technique known as 'credential stuffing'.

Persons: 23andMe, Katie Watson, Alexandra Ulmer, David Gregorio Our Organizations: FRANCISCO, Reuters, Thomson Locations: U.S, San Francisco

☆ US senator asks 23andMe for details after reported data for sale online
▼ + stars: | 2023-10-20 | by ( ) www.reuters.com time to read: 1 min

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 stolen from genetic testing giant 23andMe is now for sale on the dark web
▼ + stars: | 2023-10-07 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +4 min

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

Attendees visit 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 6 (Reuters) - A hacker is advertising millions of "pieces of data" stolen from the family genetics websites 23andMe, according to posts made to an online forum where digital thieves often advertise leaked data. "We do not have any indication at this time that there has been a data security incident within our systems," the statement said. A second layer of password protection, known as two-factor authentication, can also help frustrate these kinds of hacks. Reuters could not immediately find a way to contact the hacker, at least one of whose posts has since been removed from the forum.

Persons: George Frey, Raphael Satter, Chris Sanders Organizations: REUTERS, Rights, Thomson Locations: Salt Lake City , Utah, U.S

☆ Our crisis of loneliness, the new bet investors are going after
▼ + stars: | 2023-10-04 | by ( Rebecca Ungarino | ) www.businessinsider.com time to read: +13 min

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

☆ Google cofounder Sergey Brin quietly divorced his wife this year after allegations that she had an affair with Elon Musk
▼ + stars: | 2023-09-15 | by ( Lloyd Lee | Erin Snodgrass | ) www.businessinsider.com time to read: +4 min

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

☆ See the presentation that got a healthtech startup $7 million from Khosla Ventures to help patients find new treatments using AI
▼ + stars: | 2023-08-17 | by ( Rebecca Torrence | ) www.businessinsider.com time to read: +3 min

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

☆ Alphabet sold almost 90% of its Robinhood stake last quarter
▼ + stars: | 2023-08-04 | by ( Phil Rosen | ) www.businessinsider.com time to read: +2 min

Alphabet slashed its stake in Robinhood stock by nearly 90% in the second quarter, SEC filings show. The Google parent cut its stake from about 4.9 million shares to about 612,000. Robinhood is coming off its first-ever profitable quarter as a public company, but is losing active users. The Google-parent cut its holdings from 4.9 million shares at the end of March to 612,214 shares at the end of June. Nonetheless, Robinhood notched its first-ever profitable quarter as a public company thanks to the high-interest rate environment.

Persons: Robinhood, Duolingo Organizations: SEC, Service, Google Locations: Wall, Silicon, Robinhood

☆ Alphabet dumps more than 90% of its stake in Robinhood
▼ + stars: | 2023-08-04 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +1 min

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

☆ DNA of enslaved iron workers illuminates African American history
▼ + stars: | 2023-08-03 | by ( Will Dunham | ) www.reuters.com time to read: +5 min

A view of the site of the Catoctin Furnace, an iron forge where enslaved people of African descent once worked, in Cunningham Falls State Park in Maryland, U.S., in this undated photograph. The site now also is providing unique insight into African American history thanks to research involving DNA obtained from the remains of 27 individuals buried in a cemetery for enslaved people at Catoctin Furnace. For African American and United States history, revealing these stories and family legacies is important to understanding and acknowledging who we are, where we came from and how we are connected to each other today," Bruwelheide added. Enslaved people of African descent were forced to work in agricultural, industrial and domestic settings in parts of the United States. In a first-of-its-kind analysis, the researchers examined historical DNA alongside genetic testing company 23andMe's personal ancestry database to identify 41,799 Americans related to the 27 individuals, including 2,975 close relatives.

Persons: Aneta, Camp David, Kari Bruwelheide, Bruwelheide, Éadaoin Harney, Andy Kill, enslavers, Kathryn Barca, Barca, Will Dunham, Rosalba O'Brien Organizations: REUTERS, U.S, Smithsonian Institution, Democratic, Smithsonian's National, of, United, Workers, Catoctin, Smithsonian, Thomson Locations: Cunningham Falls, Park, Maryland, U.S, Handout, REUTERS WASHINGTON, Camp, Catoctin, West, Central Africa's, Senegal, Gambia, Angola, Democratic Republic of Congo, Africa, Americas, Washington, United States, Civil

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