Mixergy’s Andrew Warner recently interviewed Groupon’s Andrew Mason. This clip discusses how Groupon got Groupon.com.
Full interview with video and transcription can be found at Mixergy.
Andrew calls it ‘the perfect name’, but another fellow with a similar idea already owned Groupon.com. He didn’t want to … [visit site to read more]

Mixergy’s Andrew Warner recently interviewed Blank-Label.com‘s co-founder Danny Wong. This clip discusses Danny’s frustration with trying to acquire the domain BlankLabel.com
Full interview with video and transcription can be found at Mixergy. [Note: Danny was Skyping in from ... [visit site to read more]

Mark Suster is a 2x entrepreneur turned Venture Capitalist. He joined GRP Partners in 2007 as a General Partner after selling his company to Salesforce.com. He focuses on early-stage technology companies. He is also the host of This Week In Venture Capital, a new show on Jason Calacanis’s ThisWeekIn.com network of web shows. In the chat room recently I had the opportunity to post a question both he and his guest, fellow VC, David Travers spent a few minutes answering.

(Click arrow to play audio clip) Naming your company.

1. Choose a name that doesn’t box you into a corner. (i.e. As a startup your focus may change over time.)
2. Make sure your website matches your company name.
3. Is your name pronounceable in other languages.
4. Don’t pick a name that sounds like bunch of other companies, ie. don’t use the word ‘blue’ or ‘labs’ or ‘360′. (Or a word that ends with ‘ly’)
5. It does take some capital but for $10-15k (a lot of money for company with no funding, but once you’ve raised a little bit of seed capital) you can get a reasonable name.
6. The money you save marketing an easy to remember name will more than make up for the $10-15k you spend to buy the name.
7, If you’re using the hyphenated or the not exact match domain, expecting to purchase the parked version you really want later on, remember that the price will be correlated to your success.
8. You can make a deal with the domain owner… $5k plus 2% of the company.  Or a payment stream tied to success with installments towards an agreed upon price in the future. If you don’t pay the agreed upon amount by a certain time, the domain remains the sellers. Get creative.

Especially interesting to me is the idea of not naming your company too tightly around the focus of your initial startup intentions. I really like a name that is a close fit with a company’s product or service. It makes marketing easier and less expensive. Also it’s been shown that online ad campaigns are much more effective when the company/url matches what the person was searching for. Mark uses the example of a company he’s working with who purchased Bedrock.com. They also discuss the name WildFire.com. These are great names with obvious metaphoric significance that lend themselves to branding but also leave enough room for the company to shift focus if need be.

Salon has a super-interesting article on the business of naming companies. It’s long and detailed with lots of quotes from main players in the industry. I had no idea really. It’s a huge industry and people are charging a lot of money to help companies find that just right name for their business. At the end of the day they’re going to need a url.  You can find the article here: The Name Game by Ruth Shalit, but I want to share a few quotes to whet your appetite.

…eventually cost the client more than $1 million and involve up to 40 Landor executives around the globe. The first step was to interview key executives at the massive new entity, then known only by its code name of NewCo. After four months of this sort of intensive brand therapy, the group settled upon the only name capable of conveying such protean emotions — “Agilent.”

“The most namby-pamby, phonetically weak, light-in-its-shoes name in the entire history of naming,” declared Rick Bragdon, president of the naming firm Idiom. “It’s like a parody of a Landor name. It’s insipid. It’s ineptly rendered … It ought to be taken out back and shot.

“Steve Manning of A Hundred Monkeys, a San Francisco naming firm, was also appalled. “What a crummy name,” he says. “It sounds like a committee name. ‘Who’s your competition?’ ‘Lucent.’ ‘Well, we want to play off Lucent — only we’re agile. I mean, if you wanted a name like that, I could come up with that kind of name in about four seconds.”

Hey, those guys sound like they’ve been hanging out on the domain forums!
The Idiom url is actually idiomnaming.com! Idiom branding examples here: http://www.idiomnaming.com/credentials.html. A domainer at heart? Look where their hompage Idiom Naming Survey takes you: http://www.hugedomains.com HugeDomains.com, there’s a name for you. But where’s the survey?
A Hundred Monkeys at least owns their own domain and I do like a lot of these product names. A lot of their brand names leave everything up to the imagination, as far as what the company does, but as I’m beginning to understand, that’s often considered not a bad thing. I will definitely be checking out their website further. I want to know what people pay $65k for, and that’s before the domain name! (Well a few of the companies I checked had the domain name, but most were parked! What is this telling me?)

“I used to work by writing names on individual pieces of paper and sticking them up on the wall,” says Steve Manning of A Hundred Monkeys. “I don’t do that anymore.” The reason? “People were walking around the room with cameras, taking pictures of my names,” Manning says blearily. “It got a little creepy. I mean, this is Silicon Valley. People move around a lot … If they liked one of my names, they might be drawn to register it as a URL. And that would be very bad. Because, you know, I own those names.”

The monkeys don’t come cheap. “We charge $65,000 per name,” says Altman. “But we work with you for a month. And for that month, we are basically yours. It’s actually a much lower price point than many of our competitors.”

Consider Luxon Cara’s $70,000 “identity program” for US Air. The airline “wanted to be repositioned and perceived as a major U.S. airline…
“No, no,” Lagow says. “It’s been changed to US Airways.” “That’s it?” I asked.

If $70,000 seems like a hefty price for a word fragment, consider the chutzpah of Ira Bachrach. Several years ago, he charged Infiniti $75,000 for a single letter. Or, to be fair, two letters…
One model became the Infiniti J30, another the Q45.

Great article. I’m keeping a copy of it on my computer for the next time someone starts arguing about a $xxx price for what I know is a great domain name.

Homework:
From Inc, 1984! Name-Calling Feature on Ira Bachrach and Name Lab.
How Did The Blackberry Get Its Name Feature on Lexicon (url Lexicon-Branding.com A hyphen! They do own the non-hyphenated).
From Wired: How do they come up with names like Pentium and AirTouch?

When you have a ‘great’ idea, one of the first-actions you can take is to register the best domains you can find to brand the idea.

Even if you don’t execute, the perfect domain name may turn out to have some value later when someone else discovers the idea and decides they want to build a business around it.

Domainers have a phrase, ‘category killer’, they use to describe a top tier name that exact matches a search term, especially when it’s higher up on the search chain–like Shoes.com. The ‘long tail’ version would be domains like RedSpikedHeels.com.
Category killer generic domains are long gone. I think that’s one of the reasons I’m so attracted to new idea websites. If the idea is fresh enough, you can create the category killer name for it.

It gets a little subjective at this point, but what I look for first of all is a domain name that is easy to remember but that also conveys the purpose of the site. … [visit site to read more]

Again from ThisWeekInStartups.com, the Jason Calacanis ustream.tv show. It’s a great show, and the experience of watching it live has turned out to be a little bit addictive. Check out #TWIST on Twitter. Jason is simply Twitter.com/Jason.

In this audio clip from ‘Jason’s Shark Tank’, Jason tells caller/developer Kevin, of pikk.com what he likes about what Kevin’s created so far.

Signals of Quality

Jason Calacanis: Everyone should follow you on Twitter obviously, Pikk. You have that up and running, and you have a four letter domain name. These are, again, signals of quality for me. You have a decent domain name decent web design. I’m  not crazy about your web design, to be totally honest with you I think it’s a 7 or 8 out of 10 but, listen, Mahalo was a 6 out of 10 at one point, now it’s a 10 out of 10, so, it’s progress you know, and I can appreciate that. Smart enough to pick a four letter domain, great – how did you get the domain was that available or you bought it.
Kevin: I bought it.
Jason: Yeah, how much did that cost you?
Kevin: Ah, I’ve been told I got the bargain of the century, this cost me about twenty-five hundred dollars.
Jason: That’s a great deal.
Kamran Pourzanjani: Yeah.
Jason: For a four letter domain…

But don’t take my word for it. Here’s another Jason Calacanis audio clip from This Week In Startups, episode 29.

Jason on ‘Dot Com’

The context is a domain/brand a caller mentioned in a previous ‘Ask Jason’ segment.

Jason Calacanis: Isn’t it amazing though Tyler? The people with the naming.
Tyler Crowley: I just found out… I think lean.ly is available. With the dot L-Y which seems to be the hot new…
Jim Lanzone: Hmm!
Jason: Oh…
Tyler: Don’t get you started with that?
Jason: gov.ly? (refers to earlier in the conversation)
Tyler: gov.ly?
Jason: gov.ly
Tyler: lov.ly gov.ly
Jason: lov.ly gov.ly… I hate that nonsense.
Tyler: Yeah.. L-Y’s catchin’ on, so is dot F-M
Jason: (Sighs)
Tyler: But it gives people more of an option to come up with names… You use Bit.ly all day long!
Jason: You know what, De.licio.us did this as well, and then when they were successful they wound up buying Delicious dot com.
You’re going to wind up with a dot com anyway, You might as well make the effort and spend the money to get it early. So you don’t have to re-brand it!

I wasn’t the only one scratching his head when I read the TechCrunch story announcing Twitter founder Jack Dorsey’s new, very cool, credit card reading startup. It’s called ‘Square’. But the domain is squareup.com. Here’s Elliot Silver’s take (links to full post)

TechCrunch reported today that Jack Dorsey, founder of Twitter, has launched a mobile payment service called Square. While the actual product/service looks pretty cool, I am surprised that someone with the capital resources such as Dorsey would launch a new brand on a domain name that is different from the actual brand.The big problem for Square is that they are using the domain name SquareUp.com for their website. This really defies logic to me for a couple of big reasons…

Exactly! Can’t afford it? Not worth it? It’s just a domain name? But it is difficult to supply the facts that support our side of the argument. The best evidence I’ve come across that supports, with data, the efficacy of a great (generic) domain name comes from Edwin Hayward at MemorableDomains.co.uk with a report entitled visit site to read more]