Why does the name BabbleFish come to mind?
That's probably NOT the name of the startup that I'm thinking of. I think it's something similar. What brings it to mind is that I read an interview where the founder was explaining what his company would do. I've never heard that kind of baffle gab before then. AND...he had a silly haircut.

it had scam written all over it...and yet he raked in a TON of money.