Entire board walks out as 23andMe's CEO Anne Wojcicki stands firm amid turmoil
In a surprising turn of events, the entire board of directors at 23andMe, a DNA testing company based in San Francisco, resigned in September after a contentious month-long dispute regarding co-founder and CEO Anne Wojcicki's plans to take the company private. Following the mass resignations, Wojcicki, who holds 49.75% of the voting rights, is now the sole board member of the company.
The departing board members, including notable figures like YouTube CEO Neal Mohan and Sequoia Capital's Roelof Botha, expressed their ongoing belief in 23andMe's mission to personalize healthcare through genetic data. However, they indicated a fundamental disagreement with Wojcicki's strategic vision for the company's future.
In her first interview with Fortune since the board's resignation, Wojcicki acknowledged the complexities of the situation but expressed confidence in her ability to guide the company through its challenges. The tension between her and the board had escalated over her proposal to take the company private, a move that arose as 23andMe's valuation plummeted from $6 billion in 2021 to under $150 million.
The company's troubles began following its initial public offering (IPO) in 2021, when its stock debuted at $10 (approximately ₹840) per share but has since struggled, dipping to a record low of $0.30 (around ₹25) in 2024. Despite significant efforts, 23andMe has yet to turn a profit, facing declining sales and serious privacy concerns after a major data breach. Additionally, its drug discovery business, which was a financial drain, has been shut down.
Wojcicki's plan to take the company private was initially rejected by the board, who cited the absence of a premium offer for shareholders. The deadlock ultimately led to the board's resignation, despite Wojcicki’s assertion that her voting rights reflect her commitment to the company’s success. "I've always said ever since the very beginning, I don't need to be in charge. There's no ego for me. I care about the vision and the mission," she remarked.
A former leader at 23andMe indicated that the board's departure was not unexpected, shedding light on Wojcicki's leadership style. While publicly charismatic, she has been characterized as stubborn and controlling behind closed doors. Former employees have pointed to her leadership challenges and internal power struggles as significant issues that have surfaced since the company's IPO.
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Edited photo of Actor Prakash Raj taking dip at Maha Kumbh Mela goes viral, complaint filed
Bengaluru: Actor Prakash Raj on Tuesday clarified that a photo of him taking a holy dip at the Maha Kumbh Mela, which is doing rounds across social media platforms, was fake. The multilingual actor has filed a police complaint against the miscreants in this regard.
The digitally manipulated image was posted by an account named Prashant Sambaragi, captioned: "Actor Prakash Raj at the Kumbh Mela. He bathed in the Triveni Sangam. Let's hope that his sins are washed away." The image also bizarrely showed the actor’s hand blending into an artificial design, suggesting the use of AI editing.
Taking to ‘X,’ actor Prakash Raj clarified that it was fake news. He stated, "Fake news. The job of the cowardly army of the 'False King' is to spread fake news and defile even their holy worship. A police complaint has been filed. Let's see what they do in the courtroom."
ಸುಳ್ಳು ಸುದ್ದಿ
— Prakash Raj (@prakashraaj) January 28, 2025
“ಸುಳ್ಳ ರಾಜ” ನ ಹೇಡಿಗಳ ಸೈನ್ಯಕ್ಕೆ .. ಅವರ ಪವಿತ್ರ ಪೂಜೆಯಲ್ಲೂ ಸುಳ್ಳು ಸುದ್ದಿ ಹಬ್ಬಿಸಿ ಹೊಲಸು ಮಾಡುವುದೇ ಕೆಲಸ .. police complaint ದಾಖಲಾಗಿದೆ .. ಕೋರ್ಟಿನ ಕಟಕಟೆಯಲ್ಲಿ ಏನು ಮಾಡುತ್ತಾರೋ ನೋಡೋಣ 😊 #justasking pic.twitter.com/S6ySeyFKmh
