Qyuki is hindi for "because" (usually spelled Kyunki and pronounced "Q"-"key").

The site is obviously a pinterest clone for India. However, I don't think the startup aspires to be anything more than that. There are lots of clone startups in India, a lot of them are successful and even gets acquired by the startup they are cloning (Groupon for example acquired SoSasta).

Having said that, the purpose of the site is actually a bit different. Its less about sharing things you find and more about sharing your own creations. A photo you took, a song you sang, a picture you drew. I think that's a really nice concept.