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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Man arrested in connection with piracy of Zubeen Garg's last film
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Guwahati, (PTI): The person, identified as Rafiqul Islam, was arrested from Lakhipur in Goalpara district for allegedly uploading video clips on his YouTube channel, Rafiqul R Vlogs.
He was produced before the Chief Judicial Magistrate's Court and remanded to three days police custody.
A case was registered at the Cyber Police Station, Panbazar under relevant sections of the Bharatiya Nyay Sanhita, read with relevant sections of the Information Technology Act, 2000; the Copyright Act, 1957 and Cinematograph Act, 1952.
The complaint was filed by the film's producer Shyamantak Gautam with the Cyber Police Station, Panbazar, alleging that the film was being uploaded by unauthorised persons within a few days of the film's release on October 31.
Zubeen Garg's last film has become the highest-grossing film in the history of the Assamese film industry, earning Rs 16 crore within the first 12 days of its release.
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