Time to consider deleting 23andMe data
Company's struggles put future in question
By: Marley Malenfant
Austin American-Statesman
USA Today Network
..... People cuirious about their ancestry may have paid for a DNA test through 23andMe.
.....
But 23andMe is on the brink of a financial collapse. The company - founded in 2006 - is now considered unprofitable., The Wall Street Journal reported.
..... Despite generations $299 million in revenue in 2023 and $219 million 2024, the company has remained unprofitable. Its stock price, which peaked in February 2021, has consistently declined, hitting an all-time low of 29 cents.
..... This leaves 23andMe's 15 million customers wondering what will happen with their DNA data if the company goes out of business.
..... The company was
hacked in 2023, compromising data in nearly 6.9 million DNA Relatives and family Tree profiles.
..... "In early October, [2204] we learned that a threat actor accessed a select number of individual 23andMe.com accounts through a process called credential stuffing," according to a 23andMe blog post. "That is, usernames and passwords that were used on 23andMe.com were the same as those used on other websites that have been previously compromised or otherwise available."
..... Last month, [09/2024] the company reached a settlement of $30 million for the nearly 7 million customers whose personal information was breached.
..... Another reason the company is struggling is the lack of returns from customers. Customers only need to take a single DNA test, which makes it difficult for the company to secure consistent revenue.
..... According to The Wall Street Journal, the company couldn't turn those single buyers into subscribers.
..... Users can request data deletion, but it's unclear how data will be handled in the future.
..... According to the 23andMe website, users can remove their personal information anytime by opting out of the 23andMe data section of account settings the company says the data is deleted once a user submits and confirms the request. However, according to the privacy statement, 23andMe is legally required to retain certain information.