23andMe rise and fall (2007-2025)
23andMe sold at-home DNA kits that gave consumers health and ancestry data. It reached a multibillion-dollar valuation, then struggled to turn one-time tests into lasting revenue and filed for bankruptcy in 2025.
The company's value collapsed from a peak near $6 billion.
It showed that consumer health data is easy to sell once but hard to build a durable business around.
Neko faces the same question: can a one-time scan become a repeat relationship, or will customers scan once and not return?
