A release date for the new dating feature has yet to be announced.
Facebook announced a dating app at the company's developer's conference, called F8. If a user opts into making a dating profile that information will be hidden from their friends. "We want Facebook to be somewhere where you could start meaningful relationships".
Shares of Match Group Inc and its parent IAC plunged, wiping some $5 billion (roughly Rs. 33,400 crores) off their combined market values, after Facebook Chief Executive Mark Zuckerberg said his social media platform would develop its own dating app to rival Tinder, Match and others. He said "friends" won't see a person's dating profile, and that an individual will only be suggested to people who are not their Facebook friends. A user would also be able to also find common interests via groups and events.
Meanwhile, Hinge - another app-based dating service - pointed out similarities between its own app and the Facebook dating service mockup shown at the conference.
Facebook wants to become that dating site your grandparents can be comfortable using.
Facebook's cowardice in standing up for serious, trusted journalism, leaving news rankings to users already packed into social and geographical bubbles, is another mark in what is becoming a long tally of hits.More news: Airstrikes in IS-held part of Syria kill 23
But Facebook said this is not the case. "There are still many unanswered questions, and we must be sure that its decision to close is not merely a rebranding exercise or a way to circumvent ongoing investigations". Match Group's stock fell down about 20% following Facebook's announcement.
More than 200 million people on Facebook identify themselves as single, he said, and the new service will let these people connect with one another from within the company's primary app.
"I do think that helping this be sustainable is the most important thing to do", Zuckerberg said.
The argument can be made that your event information isn't technically private - someone could get a complete list of RSVPs by combing through a public event page if they really wanted to - but the ease of such a feature in a dating context is undeniably odd. More companies will have to be verified by Facebook before they can roll out an app.
"We're flattered that Facebook is coming into our space", Ginsberg said. Facebook's announcement comes at a time when the company is still recovering from the Cambridge Analytica data-leak scandal.
However, it's quite telling that despite being right at the centre of ongoing heated discussions on data privacy and exploitation, which began with the inappropriate manner Facebook had handled users' information, the California-based company is still going right ahead to create another means to acquire more personal data to sustain its ad-based business model.