23andMe founder reclaims bankrupt DNA testing company
Business
Anne Wojcicki, who started 23andMe, just won a $305 million bid to take the company private again through her nonprofit, TTAM Research Institute.
She outbid a major pharma company, but the deal still needs court approval on June 17.
What's the deal?
23andMe went bankrupt after a big data breach and losing customers—its value crashed from $3.5 billion to around $110 million.
Now, people are worried about what happens to their genetic info. States are suing over privacy concerns, and about 15% of users have already asked to close their accounts.
TTAM says they'll keep privacy rules strong and let anyone delete their data if they want.