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Genetic testing company 23andMe announced on Sunday that it has filed for bankruptcy due to low demand for its ancestry kits and after a 2023 data breach damaged its reputation.
The company, which has over 15 million customers worldwide, said it voluntarily filed for Chapter 11 bankruptcy to “facilitate a sale process to maximize the value of its business.” 23andMe is seeking authorization from a bankruptcy court in Missouri to “sell substantially all of its assets.”
In 2023, hackers gained access to personal information from roughly 14,000 user accounts over a span of five months that appeared to target Jewish and Chinese users, which alarmed customers and heightened concern about the privacy of their data. It dealt a major blow to the company’s reputation and prompted a class-action lawsuit that claimed the company did not protect users' personal information and failed to notify customers of the breach.
news.yahoo.com
The company, which has over 15 million customers worldwide, said it voluntarily filed for Chapter 11 bankruptcy to “facilitate a sale process to maximize the value of its business.” 23andMe is seeking authorization from a bankruptcy court in Missouri to “sell substantially all of its assets.”
In 2023, hackers gained access to personal information from roughly 14,000 user accounts over a span of five months that appeared to target Jewish and Chinese users, which alarmed customers and heightened concern about the privacy of their data. It dealt a major blow to the company’s reputation and prompted a class-action lawsuit that claimed the company did not protect users' personal information and failed to notify customers of the breach.
DNA testing company 23andMe has filed for bankruptcy. What does that mean for your data?
Genetic testing company 23andMe announced it has filed for Chapter 11 bankruptcy. Here's what it means for users' genetic data.
