ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#Tech#href” href=”https://economictimes.indiatimes.com/topic/23andme” target=”_blank”>23andMe on Sunday filed for data-ga-onclick=”Inarticle articleshow link click#Tech#href” target=”_blank” href=”https://economictimes.indiatimes.com/definition/bankruptcy”>bankruptcy in the U.S. after struggling with weak demand for its ancestry testing kits that once featured in Oprah Winfrey’s annual list of favorite things, and following a 2023 ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#Tech#href” href=”https://economictimes.indiatimes.com/topic/data-breach” target=”_blank”>data breach that damaged its reputation.
The company’s market value peaked in 2021 at nearly $6 billion amid booming interest in ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#Tech#href” href=”https://economictimes.indiatimes.com/topic/dna-testing-kits” target=”_blank”>DNA testing kits but demand has waned in recent years, hurting firms such as 23andMe and its Blackstone-owned rival AncestryDNA.
Sales of the consumer kits frequently picked up during holiday season, but 23andMe has…
