Published: Sat, May 05, 2018
Culture&Arts | By Hattie Nash

Facebook Introduces A New Dating Feature For Single People

Facebook Introduces A New Dating Feature For Single People

This new dating service feature is definitely going to give a neck to neck competition to different dating apps like OkCupid and Tinder. It's free, unlike many other dating websites or apps which charge a monthly fee or for premium upgrades. However, what people do within the dating feature will not be shown to their friends. Match Group's stock fell down about 20% following Facebook's announcement.

Facebook now plans to test their dating platform later this year, and Zuckerberg would only reveal that the feature could be coming out over the next few months. The application, as Zuckerberg explains, is all about building "meaningful relationships" and not "just for hookups".

Nick Hayes, senior analyst at research firm Forrester, said the guidelines around itsdating tools may help users feel more secure or inclined to share information, but it's not evident as of right now how else Facebook will protect user privacy. Although this doesn't totally address the privacy concerns that were initially raised by everyone anxious about their data being misused and the senators themselves, the new announcement is certainly is a step in right direction. Users who choose to participate will click on a heart icon on their profiles, where they'll be prompted to set up dating profiles, choose nearby events to go to, see the profiles of other singles who are also attending and start communicating with those people.

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After all the Facebook capital-D Drama that's been the centre of focus lately (you know: Russian meddling, selling user data, etc.), Mark Zuckerberg and the folks at Facebook really want to ease your minds and get you thinking more positively about the platform. People will also be able to send people messages outside of Facebook.

The profile will only be visible to other people using the dating service. It can easily leverage the huge mass of data it has acquired on its active users, which are over 2 billion, to match people more effectively than rival dating sites.

"If we assume consolidated Match has a 25% market share, the global total addressable market would be ~$6 billion, or about 5% of Facebook's projected 2018 revenue assuming a 50% market share and less than 1% of their market cap", they wrote. CEO Mark Zuckerberg later endured two days of questions on Capitol Hill about Facebook's responsibilities to users and collection practices. The social media giant makes most of its money from selling ads that it targets users with based on the information it gathers on them. First Hawaiian Bank increased its position in Facebook by 11.6% during the fourth quarter.

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On Facebook's dating service, people will be able to browse events and groups related to their interests, such as upcoming concerts or groups for runners.

Would you use a Facebook online dating service?

"I think the reaction is a combination of the Facebook news along with concerns that Match was getting toppy", or expensive, Kurnos told Reuters. Match, which owns major dating apps like Tinder and OkCupid, fell 22 percent - its largest one-day drop ever - and IAC, which owns more than a fifth of Match, fell almost 18 percent in its biggest daily loss in about 13 years, according to Reuters.

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