23andMe's market value has plummeted over 99% from its peak of $6 billion in early 2021, largely due to ongoing profitability issues.

In 2023, a significant data breach compromised the personal information of nearly 7 million users, leading to a $30 million settlement.

The company's financial decline is linked to decreasing consumer interest in its saliva-based test kits and sluggish growth in subscription services.

The company gained rapid popularity, winning Time magazine's Invention of the Year in 2008 and reaching 1 million customers by 2015.

Despite its early success, interest in DNA testing began to decline by 2019, contributing to the company's financial struggles.

23andMe, founded in 2006 in California, has become one of the largest biotechnology companies specializing in direct-to-consumer genetic testing.

Initially priced at $999, the cost of the saliva test has dropped significantly to $79, making it more accessible to a broader audience.

The company's privacy policy raises concerns, as it states that user data may be accessed, sold, or transferred in the event of a bankruptcy or acquisition.

CEO Anne Wojcicki has shifted the company's focus from drug development to marketing customer data to pharmaceutical companies, raising privacy concerns.

As 23andMe faces the brink of bankruptcy, questions arise about the security of the genetic data it holds and the future of customer information.

23andMe is not subject to HIPAA regulations, meaning it is primarily governed by its own privacy policies, which can be altered at any time.

Privacy advocates are urging users to delete their accounts to protect their genetic data, especially in light of Wojcicki's comments about a potential sale.