answer to the Silicon Valley
. It is the nickname of Shibuya
Ward in Tokyo
where a lot of venture capital backed computer companies are located. Shibuya
is also famous for the girls with the panda eyes
The name "bit valley" comes from the direct translation and a little play on the 2 kanji that make up Shibuya. "Shibu" means "bitter" as in taste and "ya" means "valley". "Bitter" then is shortened to "bit".
I personally think it is a stupid name and get embarrassed when my company is introduced as a "bit valley" company.