Real estate app developer Usewalter (WLTR) has begun trading on the TSX-Venture exchange, on the back of a recent rebranding.
Usewalter’s eponymous app connects landlords and property managers with their tenants and comes with a wide array of building administrative tools.
The company, which considers itself a “first mover” in the emerging real estate services market, was formerly known as media service provider GOLO Mobile and purchased the app’s developer Walter Innovations earlier this year.
Abandoning the GOLO brand, Usewalter has doubled down on its latest acquisition and has repositioned itself with the new app font and centre. The new name comes in tandem with the new ticker code “WLTR”, which the company commenced trading under earlier today.
Peter Mazoff, President and CEO said the new ticker represents the final stage the company’s corporate pivot to Usewalter.
"With continued execution of our aggressive growth strategy to rapidly increase doors, expand geographically and enhance revenue, we look forward to usewalter being increasingly recognized as the app that no one can live without to manage their home and workplace," he added.
In an effort to execute on its new direction, Usewalter recently signed agreements with Magex Technologies and Condo Manager to expand its reach into the condo markets of Quebec and Ontario.
The name change comes after a difficult year’s trading for GOLO’s formerly listed shares, which have sunk more than 50 per cent since the start of January.
Whether this new name change and corporate pivot can successfully shakes off the downward trend remains to be seen, but it certainly shows Usewalter’s confidence in its proprietary app.
Usewalter (WLTR) is holding steady at C$0.16 per share at 11:58am EST.