23andMe CEO Anne Wojcicki proposes to take genetic testing firm private at $0.40 per share.
23andMe CEO Anne Wojcicki has proposed to buy all outstanding shares of the genetic testing firm for $0.40 per share, aiming to take the company private. Struggling with low recurring revenue due to customers only needing to take the DNA test once, Wojcicki believes that moving to private status could help the company better execute its mission. The proposal is conditional on the approval of the company's special committee and no guarantee of a definitive agreement or transaction exists.
July 31, 2024
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