Genetic testing business 23andMe filed for bankruptcy Sunday, amplifying fears from privacy advocates that the DNA records and personal information of its 15 million customers could soon be up for sale to the highest bidder. 23andMe, which was once valued at $6 billion, has been experiencing financial distress and declining profits since going public in…
Category: Bankruptcy
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DNA testing company 23andMe files for bankruptcy protection, CEO resigns
Genetics testing company 23andMe has filed for Chapter 11 bankruptcy protection in the U.S. to initiate the sale of its assets. Alongside the announcement, the company’s co-founder and CEO Anne Wojcicki separately said she is leaving the company to become an independent bidder for the company. “After a thorough evaluation of strategic alternatives, we have…
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Battery manufacturer Northvolt nears the end as it files for bankruptcy in Sweden
Though the Swedish startup has raised over $14 billion, it has been running short on cash recently. © 2024 TechCrunch. All rights reserved. For personal use only.
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Troubled electric truck maker Nikola files for bankruptcy
Hydrogen electric trucking startup Nikola Corp. filed for Chapter 11 bankruptcy protection Wednesday after it failed to find a buyer or secure additional funds to maintain operations. Nikola was once a Silicon Valley darling, valued at $30 billion in June 2020 after it went public through a special purpose acquisition merger. But a series of…
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Cybereason CEO: Mnuchin, SoftBank Pushing Company To Bankruptcy
Eric Gan, the ex-SoftBank executive, who took over as CEO of Cybereason in 2023, is suing SoftBank and Liberty Capital, claiming its largest investors are blocking much-needed financial proposals and driving the cybersecurity firm toward bankruptcy. The post Cybereason CEO: Mnuchin, SoftBank Pushing Company To Bankruptcy appeared first on Security Boulevard.