23andMe files for bankruptcy to sell itself

Comments (404)

cloudbonsai · 77d ago

23andMe has been in a deadlock for a while.

- The CEO is effectively the control owner of the company, having 49% of the voting right. She has been trying to take the company private for some time.

- Last August, she proposed to buy all the outstanding shares at $8 per share. The board rejected. She installed a new board, and submitted her proposal again at $2.53 per share. The board rejected. She tried it a third time at $0.4 per share this month, and the board rejected.

- Meanwhile 23andMe was losing $50M every quarter.

So, unable to resolve the issue, the board choosed to enter into the bankruptcy process. I hope this relieves 23andMe from the corporate governance nightmare.

linotype · 77d ago

So rather than $8 a share they get zero? Sounds like the board was the one that messed things up.

Why is AI hard and Physics simple? (arxiv.org)

Vibe code isn't meant to be reviewed (monadical.com)

Brazil's Pix System Exposed to Legal Risk for Withholding Its Source Code (d1gesto.blogspot.com)

Ask HN: How do you integrate AI assistants into your note taking?

A camera that makes poems [video] (youtube.com)

An Extra RMSNorm Is All You Need for Fine Tuning to 1.58 Bits (arxiv.org)

your current iOS hardware is obsolete

Show HN: Focus Farming (apps.apple.com)

Anthropic's AI-generated blog dies an early death (techcrunch.com)

Self-Hosted x86 Back End Is Now Default in Debug Mode (ziglang.org)

Rust compiler performance (kobzol.github.io)

Show HN: Focus Farming – A Small Focus Timer

The World Is Running Out of Clean Water. This Technology Promises to Fix It (wsj.com)

Lots More on What America's Busiest Port Is Seeing from the Trade Tariffs [video] (youtube.com)

A How-To for the Self-Sacrificing Samurai (nytimes.com)

Is it better to neglect your garden? (bbc.com)

Cities around the world are sinking at 'worrying speed' (bbc.co.uk)

Reverse Engineering Boosted Board Remotes (github.com)

Pressure mounts for negotiations over the Colorado River's future (coloradosun.com)

Multimodal Monday #11: Niche Power, Smarter Vision (mixpeek.com)

Show HN: Most users won't report bugs unless you make it stupidly easy

Computational Complexity: my 60 favorite theorems (1965-2024) (blog.computationalcomplexity.org)

Harambe (github.com)

Gimp 3.12 will respect the system color scheme (gitlab.gnome.org)

Oso launches ORM-style migrations for authorization logic (osohq.com)

Maypole Dance of Braid Like Groups (divisbyzero.com)

Ask HN: Are there any updates about Safe Superintelligence Inc.?

Waymo Halts Service in Downtown Los Angeles After Its Taxis Are Set on Fire (nytimes.com)

The Darvaza gas crater, or Gate To Hell, is finally burning out (metro.co.uk)

Show HN: ProxyFeed – a stable RSS proxy with your own subdomain (proxyfeed.io)

Soda Data Quality Acquires NannyML (siliconcanals.com)

OpenAI releases June 2025 Threat Report (openai.com)

PCIe Gen4 with FPGA (hackster.io)

Any good strategies to avoid merge conflicts when using Codex, Jules, etc.?

Show HN: Mcp-hacker-news – An MCP server for accessing Hacker News data via LLMs (github.com)

The Frontier Is Open (together.ai)

The case for more ambition (in AI research) (blog.jxmo.io)

GM's CATL Deal Could Reshape America's EV Landscape (carsandhorsepower.com)

West Virginia coal mine had 30 years of production left. It will close (lpm.org)

Feline Genetics and Why Orange Cats Are the Most Special (hackaday.com)

Orally administered engineered bacteria: anti-viral and immunization system (tandfonline.com)

AWS Rick – 2M views from meme-style AWS videos and launching Infratory (instagram.com)

Social skills are key for college grads entering a challenging job market (coloradosun.com)

New Quantum Algorithm Factors Numbers with One Qubit (quantamagazine.org)

Could You Make a Podcast with Your Ex-Husband? (nytimes.com)

Tornado Outbreak: Finding Shelter in the Storm (amazingfacts.org)

Ask HN: I Built a Extension, but I'm Struggling with Promotion – Any Advice?

Phoenix application, directly on your Tailnet (gist.github.com)

Alibaba, Tencent Freeze Al Tools During High-Stakes China Exam (bloomberg.com)

Henry George and the death of the land tax movement (thefitzwilliam.com)

23andMe files for bankruptcy to sell itself

Comments (404)