"We realized early on that what we were doing could be national in scope and we didn't want a name that tied us to one place."

Personally I find that one of the most important reasons to think long and hard about a name. Most startups go through many pivot points until they finally get it right. Choosing a name that is overly representative of the present business model can lead to team lock-in that could spell the death of a company before it even gets going.

It seems a wiser decision is to go with a name that represents a startup's future ambitions instead of its present circumstances.