23andMe is in trouble. Once a hot Silicon Valley startup, the genetic testing company has been in free fall since a major data breach last year that affected roughly half of its customers. The incident led to a class action lawsuit, which the company has agreed to settle for $30 million.
In August, the company shuttered its in-house drug discovery unit. And last month, all of the company’s board of directors resigned en masse over cofounder and CEO Anne Wojcicki’s “strategic direction,” which included a proposal to take the company private at 40 cents per share. Wojcicki had
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