New Facebook Dating App brings Match Group (MTCH) under pressure (-22%)

Alonzo Simpson
May 5, 2018

CEO Mark Zuckerberg, as he took the stage to deliver the keynote at the annual F8 developer conference, wasted no time addressing the headline-grabbing privacy issues that have rocked the company and called his leadership into question.

Facebook plans to launch a new dating app created to compete with popular services like Tinder according to the company's CEO Mark Zuckerberg.

MTCH took a pretty sizable hit today. Company executives haven't yet explained how this will technique will be employed in its new endeavors, but Facebook users are filled with an inexplicable optimism.

Similar to how Facebook now features 360-degree photos in its news feeds, it will also start rolling out 3D photographs, and well as memories. The drop slowed about 20 minutes later, but the price has continued to fall, albeit more slowly.

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The news immediately triggered a sell-off in shares associated with existing dating services. And, the first time you message will be text only - no emojis, gifs or pictures - which Facebook says is a safety measure. Users can register for events via the Dating Profile. After you're all set up, you'll be able to join interest or event groups and be matched with other singles who are also involved in those groups, have similar "dating preferences", share common interests or have mutual friends. Meredith Golden, an NYC-based dating coach, believes the service could be a hit with older demographics that may shy away from other online dating options. Facebook's laissez-faire attitude toward privacy protection is not just a betrayal and insult to its user base, but it is compounded by its lack of vigilance to protect one of the platform's most vulnerable user demographics-African Americans. It is not for people who are just looking for a hookup.

"This will be a good test of whether Facebook can truly create a positive, privacy-aware service for its users", she said. While dating site affiliates have been banned from Facebook for several years, dating sites can still advertise on the social network.

Benchmark also doubts that Facebook could easily match Match's product and consumer knowledge despite its massive trove of user data. He imagines a scenario in which Match Group might offer premium dating while Facebook releases a more casual offering. Afterall, Facebook's own history of violating data privacy, coupled with this dating platform's inherent nature, could turn this application into the ideal tool for Facebook, or a third party to snoop on us at our most vulnerable. She said yes, we went for breakfast to a charming café, and spent hours catching up over strawberry French toast and coffee. Such information is often collected when a user signs in to an outside site or app using their Facebook login.

In order to do this, the new Messenger app will see a reduction in the number of navigation tabs to three.

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