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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 characters and only two syllables. Two-syllable names are exceptionally rare and highly prestigious. Two syllable names are used by established brands like Pepsi, Pocket and Starbucks.
This domain was first registered in May 2013. Older domains have an advantage when ranking in search engines.