This can be a good idea as normally they shall be available, the big names such as Google, Facebook, Instagram are self-created words or phrases. Once the brand is famous, it become a word everyone knows.
Pros of it:
- Unique, domain availability is high
- Personalized
- Very easy to rank with your brand name as the ambiguities are minimum.
Cons of it:
- Branding takes effort for customer to remember
- It is hard to related to the actual business.