Tech
DNA testing firm 23andMe files for bankruptcy as demand dries up
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23andMe on Sunday filed for bankruptcy in the U.S. after struggling with weak demand for its ancestry testing kits that once featured in Oprah Winfrey’s annual list of favorite things, and following a 2023 data breach that damaged its reputation.
The company’s market value peaked in 2021 at nearly $6 billion amid booming interest in DNA testing kits but demand has waned in recent years, hurting firms such as 23andMe and its Blackstone-owned rival AncestryDNA.
Sales of the consumer kits frequently picked up during holiday season, but 23andMe has…
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