23andMe could go bust. Do you still have time to delete your data? – National [Video]

One of the largest biotechnology companies in the world, 23andMe, could go bankrupt soon, spurring fears that the genetic data of millions of its customers could be sold if that happens.

But experts say you still have time to act and delete your data.

23andMe rode the wave of popular excitement and investor interest in genetics. It wasn’t alone. By 2022 the direct-to-consumer genetic testing market was valued at US$3 billion. The three largest players – 23andMe, AncestryDNA and MyHeritage – together hold the genetic data of almost 50 million people globally.

There are dozens of smaller players too, with some focusing on emerging markets such as MapMyGenome in India and 23mofang and WeGene in China.

23andMe has had a rapid downfall after the 2021 high of its public listing.

Its value has dropped more than 97 per cent. In 2023 it suffered a major data breach affecting almost seven million users and settled a class-action lawsuit for US$30 …