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This brand name follows the common tech theme of taking a widely known but rarely used word, and removing a vowel from it (e.g. "Flickr"). It could suit almost any purpose, from an app to a software company, to an animation agency or a fashion brand.
The name "Walrs" has only five letters and just two syllables. Two-syllable names are highly rare and very prestigious. Successful brands using two syllable names include Delta, Walgreens and Pocket.
This domain was first registered in May 2013. Older domains have an advantage when ranking in search engines.