23andme: 30% Irish, 30% English, 30% Scottish, 100% cringe

Down Round

One of the big crazes of the last few years was consumer genetic testing. Through services like 23andme and AncestryDNA, regular punters could find out their ethnic background, link up with distant cousins, and find out what mysterious blood illnesses they were genetically predisposed to get.

But there is trouble in paradise. 23andme has lost a staggering 98% of its value from its peak, and it has people asking: can you build a real, sustainable business from someone spitting into a tube and mailing to to a lab? We dive in.

Links

• 23andMe’s Fall From $6 Billion to Nearly $0 – The Wall Street Journal

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