GoPro Budding Rival Lily Folds Despite $34 Million Worth Of Preorders

Lily has regrettably announced its decision to terminate its business amid funding issues. This is sad news to the 60,000 customers who were hoping to receive their camera drones from the company that could have been a competitor to GoPro and other action camera makers. According to VentureBeat, Lily is shutting down after it failed to secure enough funds for the manufacture and shipping of its drone cameras. After careful thought, the company decided to send out emails to its clients on Wednesday, informing them that it is folding its business. Lily received numerous preorders amounting to $34 million after leaving a great impression to consumers during its beta program.