The
Japanese 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.