Shares of Match and its parent company, IAC, slid 22% and 18% respectively on the news of Facebook’s upcoming online dating feature which was announced at the company’s recently held F8 event.

According to CEO Mark Zuckerberg, users will be able to build a profile solely visible on the opt-in feature which Facebook will use to match them with other users they are not yet friends with. The user can then send text-only private messages only within the feature, separate from Messenger or WhatsApp.

Chief product officer Chris Cox said that they designed it to reflect the way people actually date in real life. Meanwhile, Zuckerberg said that the feature is meant to build long-term relationships and not just hook-ups.

Source: CNBC

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