{"id":196420,"date":"2024-09-20T01:23:16","date_gmt":"2024-09-20T06:23:16","guid":{"rendered":"https:\/\/lifeboat.com\/blog\/2024\/09\/every-single-member-of-the-board-just-resigned-from-dna-tester-23andme"},"modified":"2024-09-20T01:23:16","modified_gmt":"2024-09-20T06:23:16","slug":"every-single-member-of-the-board-just-resigned-from-dna-tester-23andme","status":"publish","type":"post","link":"https:\/\/lifeboat.com\/blog\/2024\/09\/every-single-member-of-the-board-just-resigned-from-dna-tester-23andme","title":{"rendered":"Every single member of the board just resigned from DNA tester 23andMe"},"content":{"rendered":"<p><a class=\"aligncenter blog-photo\" href=\"https:\/\/lifeboat.com\/blog.images\/every-single-member-of-the-board-just-resigned-from-dna-tester-23andme.jpg\"><\/a><\/p>\n<p>Following a monthslong battle over CEO Anne Wojcicki\u2019s plans to <a href=\"https:\/\/www.sec.gov\/Archives\/edgar\/data\/1804591\/000134100424000072\/sc13da1.htm\" target=\"_blank\" class=\"\" aria-label=\"Go to <a href=\"https:\/\/www.sec.gov\/Archives\/edgar\/data\/1804591\/000134100424000072\/sc13da1.htm\"\">https:\/\/www.sec.gov\/Archives\/edgar\/data\/1804591\/000134100424000072\/sc13da1.htm\u201d<\/a> rel=\u201cnoopener\u201d&gt;take 23andMe private<\/a>, all seven independent members of its board <a href=\"https:\/\/investors.23andme.com\/news-releases\/news-release-details\/independent-directors-23andme-resign-board?_gl=1*1eip6nf*_ga*MTI2OTU3NjA4NC4xNzI2NjYwNzU5*_ga_G330GF3ZFF*MTcyNjY2MDc1OS4xLjEuMTcyNjY2MDgyNy4wLjAuMA\u2026\" target=\"_blank\" class=\"\" aria-label=\"Go to <a href=\"https:\/\/investors.23andme.com\/news-releases\/news-release-details\/independent-directors-23andme-resign-board?_gl=1\">https:\/\/investors.23andme.com\/news-releases\/news-release-det...oard?_gl=1<\/a>*1eip6nf*_ga*MTI2OTU3NjA4NC4xNzI2NjYwNzU5*_ga_G330GF3ZFF*MTcyNjY2MDc1OS4xLjEuMTcyNjY2MDgyNy4wLjAuMA\u2026\" rel=\"noopener\">resigned en masse<\/a> Tuesday.<\/p>\n<p>The move is almost certainly the final nail in the coffin for the embattled company known for its mail-order DNA-testing kit. Since <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-02-04\/23andme-to-go-public-as-3-5-billion-company-via-branson-merger\" target=\"_blank\" class=\"\" aria-label=\"Go to <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-02-04\/23andme-to-go-public-as-3-5-billion-company-via-branson-merger\"\">https:\/\/www.bloomberg.com\/news\/articles\/2021-02-04\/2\u2026on-merger\u201d<\/a> rel=\u201cnoopener\u201d&gt;going public<\/a> via merger with a special purpose acquisition company (SPAC) in 2021, 23andMe has never turned a profit. Its price on IPO day was $10; so far in 2024, it has yet to reach a $1 valuation. Following the resignation of all its independent directors Tuesday, the stock fell to its rock bottom: $0.30. (As of midday Wednesday, it\u2019s back to $0.36.) <\/p>\n<p>The board includes Sequoia Capital\u2019s <a href=\"https:\/\/fortune.com\/2024\/07\/25\/seqouia-capital-roelof-botha-investment-culture-apple-nvidia\/\" target=\"_self\" class=\"\" aria-label=\"Go to <a href=\"https:\/\/fortune.com\/2024\/07\/25\/seqouia-capital-roelof-botha-investment-culture-apple-nvidia\/\"\">https:\/\/fortune.com\/2024\/07\/25\/seqouia-capital-roelof-botha-\u2026e-nvidia\/\u201d<\/a>&gt;Roelof Botha<\/a> as well as <a href=\"https:\/\/fortune.com\/2023\/02\/28\/why-youtube-betting-neal-mohan-perfect-wartime-ceo\/\" target=\"_self\" class=\"\" aria-label=\"Go to <a href=\"https:\/\/fortune.com\/2023\/02\/28\/why-youtube-betting-neal-mohan-perfect-wartime-ceo\/\"\">https:\/\/fortune.com\/2023\/02\/28\/why-youtube-betting-neal-moha\u2026time-ceo\/\u201d<\/a>&gt;Neal Mohan<\/a>, who took the helm as CEO of <a href=\"https:\/\/fortune.com\/company\/youtube\/\" target=\"_blank\" class=\"\" aria-label=\"Go to <a href=\"https:\/\/fortune.com\/company\/youtube\/\"\">https:\/\/fortune.com\/company\/youtube\/\u201d<\/a>&gt;YouTube<\/a> last year after Susan Wojcicki, Anne\u2019s late sister, <a href=\"https:\/\/blog.youtube\/inside-youtube\/a-personal-update-from-susan\/\" target=\"_blank\" class=\"\" aria-label=\"Go to <a href=\"https:\/\/blog.youtube\/inside-youtube\/a-personal-update-from-susan\/\"\">https:\/\/blog.youtube\/inside-youtube\/a-personal-update-from-susan\/\u201d<\/a> rel=\u201cnoopener\u201d&gt;stepped down<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Following a monthslong battle over CEO Anne Wojcicki\u2019s plans to https:\/\/www.sec.gov\/Archives\/edgar\/data\/1804591\/000134100424000072\/sc13da1.htm\u201d rel=\u201cnoopener\u201d&gt;take 23andMe private, all seven independent members of its board resigned en masse Tuesday. The move is almost certainly the final nail in the coffin for the embattled company known for its mail-order DNA-testing kit. Since https:\/\/www.bloomberg.com\/news\/articles\/2021-02-04\/2\u2026on-merger\u201d rel=\u201cnoopener\u201d&gt;going public via merger with a special [\u2026]<\/p>\n","protected":false},"author":396,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[],"class_list":["post-196420","post","type-post","status-publish","format-standard","hentry","category-biotech-medical"],"_links":{"self":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/posts\/196420","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/users\/396"}],"replies":[{"embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/comments?post=196420"}],"version-history":[{"count":0,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/posts\/196420\/revisions"}],"wp:attachment":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/media?parent=196420"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/categories?post=196420"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/tags?post=196420"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}