Interesting Colosseum Facts: It is also known as the Flavian Amphitheatre because it was built during the Flavian dynasty. It got the name Colosseum because of a statue that was located alongside the amphitheatre called ‘the colossus of Nero'.Construction began in 72 AD under the emperor Vespasian.olosseum Facts. The Colosseum is an amphitheatre in the center of the city Rome, in Italy. It is also known as the Flavian Amphiteatre. It is the largest amphitheatre in the world and considered to be one of the greatest Roman architecture and engineering works.