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Why is Twitch called, Twitch? Why is Facebook called Facebook. There are questions to many odd choice company names, but fact is, that's what they are.
welcome to the internet young padawan
https://en.wikipedia.org/wiki/Valve_Corporation
Facebook is pretty self-explanatory.
Correct. Valve existed before Steam. The name has nothing to do with Steam.
Because Volvo was taken
Said quote is from 2:12 in this video:
https://www.youtube.com/watch?v=HUmbVRuT4wo
Per the link below, he helped come up with the name so the reasoning above would seem to be accurate.
https://web.archive.org/web/20031207053608/http://valvesoftware.com/people.htm
Steam valve
Water valve
Gas valve
Sewage valve
I mean, Valve did pick the proper name (from this list at least).
Although "Sewage" might have been a better name pick for this client nowadays. 🙃