How does a start-up with $34 million in orders go out of business?

Lily Drone certainly had some buzz not such a long time ago. Founded in 2013, the venture capital-backed start-up created a really cool, first-of-its-kind "throw and shoot" camera drone. What the heck is that, you ask?

It’s a cute little drone about the size of your hand. It’s lightweight, has a high-resolution HD camera and is launched just by throwing it in the air. The really cool thing (in my view) is that it uses sensors to follow you around-so it can take video selfies while you ride your bike or ski down a black diamond trail, all on its own. And best of all…it worked!

By Gene Marks

Full Story: https://www.washingtonpost.com/news/on-small-business/wp/2017/01/17/how-does-a-start-up-with-34-million-in-orders-go-out-of-business/?utm_term=.95d50849652a