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This brand name could be ideally suited to a company in the social or dating sectors.
The name "heylio" has only six letters and three syllables. Three syllable names are used by established brands like McDonald's, KFC and Toshiba.
This domain was first registered in January 2018. Older domains have an advantage when ranking in search engines.
Heylio.com is a dot com domain. Dot com domains are the most valuable top-level-domain in the world, famously used by websites like facebook.com. Once secured, a dot com all but guarantees no-one else can outrank you for your own name in the long run.
One suggestion for how this name could sound when used.