From a story on axios.com by Sara Fischer headlined “Smiths to name new company ‘Semafor'”:

Ben and Justin Smith plan to name their new company “Semafor,” a word used to describe a method of communication via two visual signals, the pair confirmed to Axios.

Why it matters: The word, which is roughly the same across dozens of languages, is meant to represent the duo’s global ambitions.

Details: The word “semaphore” is derived from the ancient Greek word meaning “sêma,” or signal, and “phore,” which means carrier or bearer of a signal.