Selfie Drone Maker Lily Flames Out, Despite $34M In Pre-Orders

San Francisco-based Lily, the crowdfunded developer of a drone specifically designed to follow its users around and to take selfies, has shut down. According to the company--which raised an immense $34M in pre-orders and another $14M in venture financing--it has been unable to secure financing "to unlock our manufacturing line". Lily said it plans to wind down the company and offer refunds to its customers.