A view of the 23andme headquarters in Sunnyvale, California, on March 25, 2025.
Tayfun Coskun | Anadolu Getty pictures
23andme Co -founder Linda AVEY took social media on Wednesday for express frustration About the fate of the genetic test company once it was enlisted in Chapter 11 Failure protection This week.
AVEY helped launch 23andme in 2006 with Paul Cusenza and Anne Wojcicki, who resigned as CEO on Friday. The company was main due to its popular DNA test kits, but in recent years it struggled to generate recurring revenue, plant viable therapeutic and research companies, and to assumed privacy concerns.
« My time in the company was reduced in 2009, when my co -founder Anne convinced the board that I had to run the company, » AVEY wrote in a publication at the X -social networking site. « And I have to be honest, I was frustrated by the management that the company took after that time. »
23andme, which reached a maximum market cap of about $ 6 billion, worth around $ 14 million when closing the market on Wednesday.
« Without the continuous development of consumer -centered and non -governance products, 23andme lost its way and society lost a key opportunity to favor the idea of personalized health, » said AVEY.
Last March, 23andme, independent counselors formed a special committee to evaluate the possible roads of the company. The seven members resigned in September and said they did not agree with Wojcicki on « strategic management for the company ».
« After my departure, she filed a majority vote by herself that eliminated the Governance of the Council, even when she expanded during the following rounds of funding, » said Avey. « For better or for worse, the Buck stopped with her. He didn’t surprise when the council resigned last year. »
Wojcicki presented several proposals for private company, but they were all rejected, even after the company designated New Board members. The Special Committee « decided unanimously to reject » Wojcicki’s most recent proposal before This month.
If the Plan of Chapter 11 of 23andme is approved by the court, the company « will actively request the qualified offers » during a 45 -day process. Wojcicki is still planning to pursue the company as an independent offerer, he said on Monday in a publication in X.
« There are many caution tales buried in history 23andme, » said AVEY. « It is imperative to balance between the desire for control and supervision of the founder’s board; otherwise, why do you have a tip? »
23ndme did not immediately respond to CNBC’s comments request.
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