23andMe’s fall from $6 billion to nearly $0 — a valuation collapse of 98% from its peak in 2021
23andMe, once hailed as a revolutionary company in the field of genetic testing, has experienced a staggering fall from grace. In 2021, the company reached its peak valuation of $6 billion, making its CEO, Anne Wojcicki, a self-made billionaire. However, that valuation has now collapsed by 98%, with 23andMe’s stock facing the threat of being delisted from Nasdaq. It seems that the allure of this once-popular company has faded, leaving many to question its model and future prospects.
One of the key challenges for 23andMe lies in the nature of its product. DNA testing is typically a one-time use service, meaning that once customers have taken the test and received their results, there is little incentive for them to continue using the service.… Continue reading
Matt Underwood