Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member Latest Breaking News General Discussion The DU Lounge All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search

Montauk6

Montauk6's Journal
Montauk6's Journal
February 10, 2024

Jose Feliciano - Susie-Q

February 10, 2024

Cameo - Post Mortem

February 10, 2024

Brainstorm - Hot For You

February 10, 2024

Rose Royce - Do Your Dance

February 4, 2024

MSN/WSJ: 23andMe's Fall from $6 Billion to Nearly $0

Five years ago, 23andMe was one of the hottest startups in the world. Millions of people were spitting into its test tubes to learn about their ancestry. Oprah had named its kit one of her favorite things; Lizzo dressed up as one for Halloween; Eddie Murphy name-checked the company on “Saturday Night Live.” 23andMe went public in 2021 and its valuation briefly topped $6 billion. Forbes anointed Anne Wojcicki, 23andMe’s chief executive and a Silicon Valley celebrity, as the “newest self-made billionaire.”

Now Wojcicki’s self-made billions have vanished. 23andMe’s valuation has crashed 98% from its peak and Nasdaq has threatened to delist its sub-$1 stock. Wojcicki reduced staff by a quarter last year through three rounds of layoffs and a subsidiary sale. The company has never made a profit and is burning cash so quickly it could run out by 2025.

Silicon Valley’s fortunes were built on the lofty ambitions of entrepreneurs swinging for the fences—even if most of them strike out. Wojcicki, for her part, isn’t giving up. She’s sticking to her goal to transform 23andMe from a supplier of basic ancestry and health data into a comprehensive healthcare company that develops drugs, offers medical care and sells subscription health reports.

More: https://www.msn.com/en-us/money/companies/23andme-s-fall-from-6-billion-to-nearly-0/ar-BB1hxqd9?fbclid=IwAR0sUXxzz8P2QFt3WtM8FqPW-QMDBpVa1RqD9Pmx9tRY8rgsd6Sa64CGvqY#comments

January 18, 2024

Yusef Lateef - Eboness

January 17, 2024

Lena Horne - Meditation

Profile Information

Member since: Fri Mar 4, 2005, 01:56 PM
Number of posts: 8,080
Latest Discussions»Montauk6's Journal