Sorry, I need to clarify, the one I factory reset was a Bebop 2 although the process is the same for both. Per the Bebop 1 manual, hold the power button for 10 seconds, then the led blinks green and orange, then turns green. But no go for you, that sucks.
My Bebop 2 fan turns on for a moment just as the Bebop 2 powers up, turns off for a short bit, then powers on again and runs continuously from then on.
What happens if you connect it via USB and press the button 13 times in quick succession? It should turn on USB networking where you can connect to it via telnet and maybe see what's wrong.