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DNA-testing company 23andMe soared in the early cash session in New York on news that Anne Wojcicki, the CEO, plans to take the struggling company private after three years on the public markets. The company once sported a $6 billion valuation and has since collapsed to $235 million.

Wojcicki's big announcement was made in a public filing late Wednesday. The filing stated that she "is considering making a proposal to acquire all of the outstanding shares of 23andMe."

The filing noted that she would reject any other buyer taking over the company. Her ownership stake is around 20% of the total outstanding shares. This means she controls 49.99% of the company's voting power, making it impossible for anyone to purchase the human genetics and biopharmaceutical company. . .

>DNA-testing company 23andMe soared in the early cash session in New York on news that Anne Wojcicki, the CEO, plans to take the struggling company private after three years on the public markets. The company once sported a $6 billion valuation and has since collapsed to $235 million. >Wojcicki's big announcement was made in a public filing late Wednesday. The filing stated that she "is considering making a proposal to acquire all of the outstanding shares of 23andMe." >The filing noted that she would reject any other buyer taking over the company. Her ownership stake is around 20% of the total outstanding shares. This means she controls 49.99% of the company's voting power, making it impossible for anyone to purchase the human genetics and biopharmaceutical company. . . [Archive](https://archive.today/T8THU)

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[–] • 0 pt

Exactly, they already had the data, buying the company was to keep others from getting that trove of data - and to retain the capability of generating future data from any remaining idiots sending samples to them - all at a bargain price.