23andMe Has Lost Billions, Almost Worthless Now

Direct-to-consumer DNA testing company 23andMe, once a tech unicorn known for organizing “spit parties” featuring notable celebrities, is burning cash at an astonishing rate.

Its valuation, once breaking past $6 billion in 2021, has plummeted, the Wall Street Journal reports, with stocks selling at a measly 74 cents, a drop of 98 percent from its peak. The company has also gone through several rounds of layoffs in 2023.

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