TechCrunch Industry News 23andMe faces an uncertain future — so does your genetic data
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Mar 25, 2025 23andMe is facing a rocky road ahead, with bankruptcy fears and a significant data breach shaking customer confidence. Privacy experts urge individuals to reconsider their genetic data's safety. The conversation sheds light on the broader implications of data security and the need for better federal regulations. As the future of personal genetic information hangs in the balance, the stakes are higher than ever for consumers.
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23andMe's Decline
- 23andMe's value plummeted over 99% from its peak of $6 billion since going public in 2021.
- The company's decline is linked to reduced consumer interest in its test kits and slow subscription service growth.
2023 Data Breach
- A significant data breach in 2023 compromised the ancestry data of nearly 7 million users.
- This led to a $30 million settlement and ultimately contributed to the company's downfall.
Data Privacy Concerns
- 23andMe's data collection practices raise privacy concerns, especially given they are not HIPAA compliant.
- Their privacy policies can change, leaving user data vulnerable in a potential sale.