How Loom Landed a Nearly $1 Billion Sale

3 in 4 Family Businesses Expect to Grow This Year

How to Survive an Industry Slump? This Vertical Farm Raised $134 Million Even as Competitors Withered

How Klarna's Co-Founder Learned to Hire Tech Talent--Without a Tech Background

Andreessen Horowitz Hails 'New Era' in VC With Fresh $7.2 Billion Fund

Will 'Ticket*astard' Get Hauled to Court?

Grow Your Business Using TikTok With These Tried-and-True Tips

Anne Wojcicki wants to take 23andMe private. On Wednesday, Wojcicki, CEO and co-founder of the San Francisco-based biotechnology company, filed paperwork with the Securities and Exchange Commission, indicating she would seek partners to take the company private, The Wall Street Journal first reported.

The company, which went public through a merger with a special purpose acquisition company (SPAC) in 2021, saw its stock value price to less than a dollar in recent months and was seemingly in danger of being delisted by Nasdaq. On news Wojcicki might take the company private, the stock price rose slightly to about 50 cents a share by midday today.

According to a press release from 23andMe, Wojcicki currently owns 20 percent of the outstanding shares in the company. That entitles her to 49 percent voting power, and she signaled in the filing she intended to retain control of the company.

23andMe launched with great promise in 2006. The company offered at-home DNA testing intended to help identify potential health issues early. The company also saw promise in using that genetic information to research therapeutics, including through a partnership with GSK.

But the company has had a bumpy ride over the years. In 2008, Time named 23andMe DNA kits the "invention of the year." In 2013, it had to stop selling kits for nearly two years to comply with a Food and Drug Administration order. "It's really hard to get something completely right," told Inc. for a cover story in 2019. "As a business leader, you have to be very comfortable being criticized and recognize it's not about you. It's about learning how to be even better. And who wants to be in a static state?"

In October 2023, the company suffered a data breach, in which hackers stole ancestry data for about 7 million users. The full extent of the breach wasn't revealed until December, and 23andMe is currently the subject of a class action suit from users affected by the breach. In November, the company announced a $99-a-month subscription service, but has reportedly seen minimal customer interest.

Wojcicki has not commented on news of her SEC filing. In an interview with Inc. in February, Wojcicki discussed how she communicates with employees and shareholders in difficult times.

"I try to always be very direct and very honest," she said. "I think that people inherently trust you when you help people understand the bumps in the road, and understand when things are good and when things are bad."

Now accepting applications for Inc.’s Best Workplace awards. Apply by February 16 for your chance to be featured!

A refreshed look at leadership from the desk of CEO and chief content officer Stephanie Mehta