We’re all deal news this morning, aren’t we? Lot18 raises money, Groupon has a surprisingly-healthy trading day and Juice in the City launches in New York. Gilt Groupe, another subscriber-based deals business, is also growing like gangbusters, apparently. Although you gotta wonder where all these business will be after the recession ends and people remember that discounts are gauche.
Naming a start-up is hugely important. If you are creating the next big thing, you want it to have a name you like. It’s tough to change branding in the middle of a cultural revolution. WNYC posted an extended interview with Jack Dorsey about agonizing over the naming of his companies, Twitter and Square. It took about two months to come up with the name for Twitter, he said.
DORSEY: We wanted a name that evoked what we did. We wanted something that was tangible. And we looked at what we were doing and when you received a tweet over SMS, your phone would buzz. It would jitter. It would twitch. And those were the early names, Jitter and Twitch. And neither one of them really inspired the best sort of imagery.
COLGAN: They were the names of the company?
DORSEY: They were the names we were considering for Twitter at the time.
COLGAN: So we could all be talking about Jitter.