23andMe’s DNA Deal Gone Wrong 🧬📉

☀️ Good Morning, it’s Tuesdaaaaay!

Hope your week’s off to a strong start—because the markets sure are! Tech stocks are flexing, Swiggy’s dropping smartphones in 10 minutes, and SEBI is laying down some fresh regulatory chai. As for our Big Brew? The once-hyped DNA testing startup 23andMe just unraveled at the genetic level (bankruptcy alert 🧬).

📰 Chai Shots

• 🇮🇳 Markets rally into the green for 2025: Nifty and Sensex snapped a winning streak not seen since September, thanks to foreign investor buying and strong gains in financials and defence stocks.

• 🧬 DNA Disaster: 23andMe Files for Bankruptcy: Genetic testing firm 23andMe has filed for Chapter 11 bankruptcy following a brutal data breach in 2023 and collapsing demand. The company, once valued at $6B, saw its stock nosedive 50% to just 88 cents. More in the Big Brew!

• 📱 Swiggy’s 10-Min Smartphone Delivery?!: Swiggy Instamart now delivers smartphones in 10 minutes across 10 Indian cities. Apple, Samsung, OnePlus—you name it. Customers also get a 5% discount on orders above ₹11,499 with ICICI credit cards. Tech just got even quicker.

• ✈️ EaseMyTrip Boards the Aviation Game: Online travel platform EaseMyTrip has acquired a 49% stake in Big Charter Pvt Ltd, entering India’s private aviation market. The company also announced investments in its subsidiaries across Brazil, Saudi Arabia, and the U.S. as it prepares for global takeoff.

• 🏥 DCDC Kidney Care Gets ₹150 Cr Booster Shot: Singapore’s ABC Impact has invested ₹150 crore into DCDC Kidney Care to support expansion of 150+ new dialysis clinics. This move brings accessible treatment closer to patients, especially under Ayushman Bharat, addressing long-standing access challenges in kidney care.

📈 Market Masala

• 🔼 Nifty, Sensex hit six-day high, turn 2025 positive: After six straight sessions of gains, the Nifty and Sensex have erased their year-to-date losses. The Nifty 50 climbed 308 points to 23,658.35, while the Sensex soared 1,079 points to 77,984.38. Heavyweights like HDFC Bank, Kotak Mahindra, and Reliance led the surge, backed by fresh FPI inflows, improved industrial output, and cooling inflation.

• 💹 Defence, PSU banks, and midcaps fuel the momentum: Eleven of twelve NSE sectors ended in the green, with defence and PSU banks out in front. Broader markets joined the rally, with mid- and small-cap indices gaining over 1%. The Nifty’s break above its 100-day moving average has formed a bullish signal, suggesting the rally may have legs.

• 🍘 Temasek Seeks CCI Nod for 10% Bite of Haldiram at $10B Valuation: Weeks after the news was made public, Temasek has approached the Competition Commission of India (CCI) to acquire a 10% stake in Haldiram’s, pegging the desi snack giant at a spicy $10 billion valuation.

• ☀️ Adani powers up renewables: Adani Enterprises has launched a new arm focused on solar and wind energy manufacturing, doubling down on India’s clean energy push.

• 🍪 Britannia faces factory hiccup: A worker strike at Britannia’s Jhagadia plant in Gujarat has disrupted operations. Talks are on, but the biscuit major hasn't revealed the full impact yet.

• ✈️ Akasa’s sky-high ambitions: CEO Vinay Dube says Akasa Air plans to be among the world’s top 30 airlines by fleet size by 2030, with 226 aircraft and a 15% domestic market share in sight.

🌍 Global Masala

• 📊 Wall Street goes full rocket mode as Dow pops 600 points: US stocks lit up the boards Monday after whispers that Trump might chill on his April 2 tariffs. The Dow surged nearly 600 points, S&P 500 climbed 1.76%, and the Nasdaq jumped 2.27%. Investors are betting the tariff fireworks might be a little less explosive than feared.

• 🇩🇪 Germany’s Manufacturing Mojo Returns: For the first time in nearly two years, Germany’s manufacturing sector grew, pushing the country’s PMI to 50.9 in March. A fiscal boost and pre-tariff U.S. demand may have lit the spark. But economists warn: once tariffs kick in, it might be a short-lived boom.

• 🇹🇷 Turkey’s Markets Bounce Amid Chaos: Istanbul’s stock index rose 3% after mass protests against the arrest of opposition leader Ekrem Imamoglu. The lira, however, continued to struggle—down 1% against the dollar.

• 🇺🇸 Trump’s Tariff Tuesday Gets Softer: Trump’s “Liberation Day” reciprocal tariffs, due April 2, may now be narrower than expected. Sector-specific duties on autos, chips, and pharma could be delayed. Markets are breathing a cautious sigh of relief.

• 📉 Bayer Takes a $2.1B Hit: German pharma giant Bayer’s stock plunged 7.5% after a U.S. court ordered it to pay $2.1B in a lawsuit over its weedkiller Roundup, which was linked to cancer.

☕ The Big Brew: 23andMe—From DNA Darling to Data Disaster

Once valued at nearly $6 billion and backed by Richard Branson’s SPAC, 23andMe was the poster child of consumer genomics. But after a massive 2023 data breach and waning interest in at-home DNA kits, the company has filed for Chapter 11 bankruptcy.

So what went wrong?

• 📉 Demand dried up. Customers usually only buy one kit—and 23andMe failed to build a sticky business model beyond that.

• 🔓 A catastrophic data breach in 2023 exposed health info and genetic reports of 7 million users.

• 🔄 Attempts to pivot into drug development and subscription models failed to take off.

• 🧑‍⚖️ The firm settled a $30M lawsuit over the breach and controversially changed its terms to limit legal recourse.

• 🧬 Privacy fears exploded as 23andMe admitted to selling data to pharma companies (including GSK) and said it could sell data in a bankruptcy sale.

• 💸 Co-founder Anne Wojcicki resigned, then tried to buy back the company herself after failed takeover attempts.

California’s Attorney General and the UK’s ICO have both issued warnings. Customers are being advised to delete their data, revoke research permissions, and even request destruction of their samples.

🧐 What does this mean? Companies built on deeply personal data can rise fast—but fall even faster if they mishandle privacy. This case could be a cautionary tale for India's growing healthtech and at-home diagnostics industry. Trust is errything.

🚀 Startup Scoop

• 💸 Meesho Eyes $1B IPO at $10B Valuation: Homegrown e-commerce giant Meesho is planning to go public around Diwali, hoping to raise $1B at a $10B valuation. With over 14.5 crore annual users and 3X growth in orders, the SoftBank-backed startup is prepping for a festive blockbuster.

• 🍕 Curefoods Raises ₹56 Cr in Debt: Ankit Nagori’s Curefoods (behind EatFit and Nomad Pizza) raised ₹56.4 crore in debt funding led by BlackSoil and Binny Bansal. The cloud kitchen startup, which cut losses by 50% in FY24, is eyeing a $300–400M IPO in FY26.

• 📦 Shiprocket Rolls Out Same-Day Delivery in Hyderabad: Shiprocket expands Same Day Delivery to Hyderabad, allowing MSMEs to compete with the big boys. Orders picked up by 3pm now reach customers by evening—perfect for fast fashion, beauty, and book buyers.

• 📦 Zepto’s $250M secondary sale brewing: Ahead of a potential IPO later this year or in 2026, Zepto is in talks with Motilal Oswal and Edelweiss for a $250M secondary share sale. The aim? Boost Indian investor ownership from 33% to 50%—without raising fresh capital.

🧠 Chai Break Trivia

Did you know the world’s most expensive mango is grown in Japan?
🥭 Called the Miyazaki mango, this ruby-red fruit can cost up to ₹2.7 lakh per kilo! It’s prized for its sweetness, perfect shape, and juicy flesh—and is often sold in luxury fruit auctions like a designer handbag. Now that’s some mango madness!

☕ That’s a wrap for your Tuesday!

Markets are moving, founders are fundraising, and DNA kits are facing their biggest plot twist yet. Catch you tomorrow with more hot takes, spicy scoops, and strong brews.

Until then—sip safely, invest wisely, and don’t forget to delete your DNA if you must. 😭😭😭