Long, long ago, in a galaxy far away, two clownfish were mucking around their reef when lightning struck. Wham! Just like that! They started seeing stars, and were absolutely convinced the stars read, "go the world wide web way!"
So the two clowns did; moved to the web. Free elections were held, with a referendum deciding that their little corner of the reef be named iBluewater.com, which stuck to this day.