Why Is 23andMe — the Hot Gene Testing Startup — Now Worthless?
Birthed in Silicon Valley among high-tech go-getters, it should still be steaming along, right? But traditional bedrock business realities cursed it at its birthEmbattled genetic testing outfit 23andMe had a customer base of 14 million for its home DNA testing kits. Thus, many of us know at least someone who has discovered a partial Mongolian, West African, or even Neanderthal ancestry via the famous “spit kit.” The 2006 startup, birthed in Silicon Valley and riffing off the Human Genome Project (2000), had a dazzling “the future is now!” launch. The founder, Anne Wojcicki (pronounced as if “Wojisky”), was the daughter of “Godmother of Silicon Valley” Esther Wojcicki and sister of YouTube’s former CEO, Susan Wojcicki. For a time, she was married to Google co-founder Sergei Brin and had plenty of billionaire backers. Thus 23andMe raised $1.4 billion in funding. So why has the Read More ›