Your startup’s name matters. But why?
It seems like every startup these days has an interesting, nontraditional name. Why are we so attracted to names like Uber or Airbnb? Well, the names are definitely obscure but they are also catchy and memorable. According to a recent study, the name of a startup greatly impacts the startup’s appearance to consumers and investors.
Findings show that short, simple names are best perceived by others. Even if the name doesn’t exactly explain what the startup does or what industry it is in, unique names give the impression that the startup is also unique. For both early and late investors, easily pronounceable names fair best. However, more obscure and outlandish names have the tendency to scare away investors in the later stages of development. That’s why your startup name matters.
When push comes to shove and a startup is revving up for large investments during its later stages, the name really doesn’t mean too much. What matters most is how successful and profitable business has been and will continue to be. So give some thought into your startup’s name … but maybe not too much thought because short and simple names appear to take the prize.
What are some of your favorite startup names? Tweet @StarterNoise.
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Katherine is a newbie to Denver. She recently completed her Masters in Peace and Justice Studies at the University of San Diego. When she isn’t trying to save the world, Katherine is all about trying any and all delicious foods, hitting up the beach but not actually swimming (deathly afraid of sharks), and taking as many hikes as humanly possible.