There is an interesting article about the 10 company name types on The Name Inspector. Based on their typology, you might think that Lokad is a made-up word. Well, the reality is a bit more complicated.
Lokad was initially chosen as a blend of Local + Advertising = Lokad. The blend was also including a misspelling due to some obscure domain name availability issue.
- Local advertising was a project started (and terminated) in 2005 with the CEO of a small company named Next Frontier Innovation.
- The idea was to use TFT screens to display local ads (like in a waiting queue for a movie theater). We also had several ideas to directly measure the ROI of the displayed ads.
- After two weeks of work, we discovered a few patents that had been filled by Sony one year before. Unfortunately for us, those patents where covering most of our ideas for this project.
- Conclusion: our ideas weren't bad, yet we were too late since Sony was already holding the intellectual property.
Then there was a second project named Time-series forecasting. After the cancellation of the local advertising project, I have been looking for a great branding name for the forecasting project. Yet, I did not found any domain name convincing enough and short enough in my opinion. Thus, I finally decided to recycle LOKAD.COM for the cause of the time-series forecasting.