what do you guys think of it ? i was thinking of buying preipo stocks from third party. will it be a good ipo at somepoint ? do they have good innovations going on or being worked on ? any advice/feedback will be highly appreciated. thanks in advance. #personalfinance #investments
Depends on the price but as far as business I don't see how this going to explode. People need to do DNA analysis once. So you always need to look for a new customer. Which is really expensive to do. May I ask how are you buying it from third party?
I think they are advertising the use of their “data”. So they are a tech company in the same way as WeWork.
How is 23andMe not a tech company? By definition we've developed and sold technology. The product involves genotyping and then analyzing your DNA using software. What part of this doesn't seem like a tech company? How is this comparable to wework?
They have lots of gene/dna info, you would think some big pharma would buy them out for any future drug discoveries ?
It doesn’t work that way. There are laws around what can be done with the data.
It actually does work that way; we develop drugs. The issue is pharma companies are high risk.
EquityZen is offering $10.5
This worries me. You listed a stock price without market cap. It is meaningless
Wow thats pretty terrible for the seller, I'm assuming they are in the #laidoffcrew. That's less than the last 409a valuation
From this article https://www.theverge.com/2020/2/6/21126360/23andme-ancestry-layoffs-genetics-dna-market-privacy 23andMe plans to concentrate its research on a drug development arm, which has already proven lucrative: it started partnering with pharmaceutical companies in 2018, and in January, the company sold the rights to a drug it developed in-house. The companies may want to keep pulling in customers to bolster their databases of genetic information, Baker says. “Subscriber growth matters in terms of how good that database is.”
Seems like they are already collaborating or working on drug dev business
I am curious too
About what ?
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I wouldn’t.