23andMe to Merge with Virgin Group’s VG Acquisition Corp

[sarthakjshetty]

https://virgin.com/about-virgin/virgin-group/news/23andme-to-merge-with-virgin-groups-vg-acquisition-corp

[Wronnay]

VGAC shareholders will only get 11 Percent of the combined company: https://vgacquisition.com/wp-content/uploads/2021/02/23andMe... - so the current VGAC market cap with 876.30 Mn is way higher than the $3.5 billion valuation.

[Communitivity]

I wonder what this will mean for 23andMe customers in terms of accessing their data and data updates.

[helen___keller → Communitivity]

Probably nothing immediately:

> Current shareholders of 23andMe will own 81% of the combined company

However, as a public company, whatever data policies are in place would be subject to change to the ever-shifting shareholders, so in the long-run who knows.

[fragmede → Communitivity]

Importantly, while 23andme won’t sell customer data, it’s not considered selling if they’re sharing it with other parts of the same conglomerate they’re now part of.