Facebook launches dating service to compete with Tinder
The announcement made the shares of dating business Match Group which owns Tinder to fall and close more than 22 per cent of their opening price on the day.
Mark Zuckerberg, founder of social media giant Facebook on Tuesday announced it would be launching a dating service for all its users. With the rise in popularity of the dating application Tinder, the move by the social network comes as a strategic launch looking to capitalise on the huge market of online dating across the globe.
Zuckerberg who announced the service at his firm's annual F8 developers conference in San Jose, California said that he will be taking privacy very seriously. He went on to add that with over 200 million people on Facebook, they want to build meaningful relationships and it is their top priority.
Interestingly, immediately after the announcement, the shares of dating business Match Group fell and closed more than 22 per cent of their opening price on the day. The firm happens to own Tinder and sources all its user information from Facebook, till now.