Appreciate the rational approach to a very upsetting situation. I did see Moody’s in July 2024 gave Ancestry a 1 in 4 chance of going out of business ivy 2026 due to how much debt they are carrying.
That’s the problem with venture capital funding. They will load the company up with a huge amount of debt, cash out to recover their investment plus some profit and place the company back in bankruptcy for some other VC vultures to buy. It’s a vicious cycle that few companies can endure.
I never liked 23 & ME. If you were paying attention they were always in the news for something suspect. Changed ownership a few times, data breach, the goofy Lederhosen & Kilt commercials that cost them a fortune. There were signs. Pay attention people.
Their systems went down completely after the announcement. They are back up but running slowly. Keep trying to log in. I've been able to get in a couple of times today.
I tend to view any information coming from a company in bankruptcy with a very skeptical eye. I dealt with too many bankrupt companies before I retired. We don't know who might end up owning 23andMe at the end of the auction. Are there parts of the company that a new owner might decide to spin off? Or, potentially worse, are there parts they might decide to shutter?
I am just recommending that we take prudent steps to protect our data. I'm not saying that anyone should delete their 23andMe account. Mine is still active, as is the one I manage for my mother. I'm taking similar steps with Ancestry, FTDNA, and Living DNA. I think it's a good practice to back up data of all sorts.
I think it is important to note also that 23&Me was a sponsor at RootsTech recently and talking about new features that suggested an improved focus on genetic genealogy.
Thank you for speaking on this topic!
Appreciate the rational approach to a very upsetting situation. I did see Moody’s in July 2024 gave Ancestry a 1 in 4 chance of going out of business ivy 2026 due to how much debt they are carrying.
That’s the problem with venture capital funding. They will load the company up with a huge amount of debt, cash out to recover their investment plus some profit and place the company back in bankruptcy for some other VC vultures to buy. It’s a vicious cycle that few companies can endure.
I never liked 23 & ME. If you were paying attention they were always in the news for something suspect. Changed ownership a few times, data breach, the goofy Lederhosen & Kilt commercials that cost them a fortune. There were signs. Pay attention people.
Have not been able to log into my account since the bankruptcy announcement!
Likely they are boxing in your data. It's like a run on a bank.
Their systems went down completely after the announcement. They are back up but running slowly. Keep trying to log in. I've been able to get in a couple of times today.
I got in just now! Thanks for the encouragement to try again!
I tend to view any information coming from a company in bankruptcy with a very skeptical eye. I dealt with too many bankrupt companies before I retired. We don't know who might end up owning 23andMe at the end of the auction. Are there parts of the company that a new owner might decide to spin off? Or, potentially worse, are there parts they might decide to shutter?
I am just recommending that we take prudent steps to protect our data. I'm not saying that anyone should delete their 23andMe account. Mine is still active, as is the one I manage for my mother. I'm taking similar steps with Ancestry, FTDNA, and Living DNA. I think it's a good practice to back up data of all sorts.
Yes. I agree that people should always be prudent with their data wherever it is ... And make sure they have it downloaded/backed etc. regardless.
I think it is important to note also that 23&Me was a sponsor at RootsTech recently and talking about new features that suggested an improved focus on genetic genealogy.
It is worth reading what The DNA Geek (Leah Larkin) has to say on the subject - https://thednageek.com/23andme-is-reorganizing-its-okay/
And also 23andMe's open letter to consumers - https://blog.23andme.com/articles/open-letter
I'm also going to opt out of anything I can and wait and see. Thank you for posting.