23andMe filed for Chapter 11 bankruptcy on Monday, planning to sell most of its assets under court supervision to manage financial troubles.
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00:0023andMe filed for Chapter 11 bankruptcy Monday, planning to sell most of its assets under
00:06court supervision to manage financial troubles.
00:09Co-founder and CEO Ann Wojciechki has stepped down but will stay on the board, with the
00:13company's former CFO stepping in as interim CEO.
00:17The filing comes after a major 2023 data breach that resulted in a $30 million settlement
00:23and failed attempts by Wojciechki to take the company private.
00:27Despite the bankruptcy, 23andMe plans to keep operating while searching for a buyer.