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23andMe Re-Opens Data Auction With $305 Million Bid From Former CEO
After a brief court dispute, the DNA testing company 23andMe has reopened its data auction with a new and significantly higher opening bid from none other than former CEO Amy Wojcicki herself. The staggering sum of $305 million represents a substantial increase over the previous auction’s winning bid by Regeneron Pharmaceuticals, which was only $256 million.
It appears that Wojcicki has secured backing from an unnamed Fortune 500 company valued at over $400 billion to make this substantial offer. As part of the agreement, both parties involved have agreed to comply with existing privacy policies and ensure that sensitive information remains protected.
This move comes after a lengthy dispute regarding the auction’s terms, which initially capped Wojcicki’s maximum bid at $250 million due to concerns over TTAM Research Institute’s “financial wherewithal.” The re-opended auction allows Wojcicki an opportunity to potentially buy her former company back.
Source: gizmodo.com
