Seems like the approach a lot of modern day startups use is this: 1. Take the name of the niche you're targeting. For this example lets say we're a health star

Seems like the approach a lot of modern day startups use is this: 1. Take the name of the niche you're targeting. For this example lets say we're a health startup wanting to revolutionise patient waiting times in hospital emergency awards. 2. See if the domain .ly is available or if not, .li; patientrocket.ly, waitzero.io 3. Profit $$$ I don't think there is a set formula. To some names are personal and to others they're just names and don't have any underlying meaning to them other than they're memorable or sound cool.