Shares of Match Group Inc., the owner of popular dating app Tinder, fell as much as 21 percent after the news, while IAC, Match's parent company, dropped almost 14 percent. This announcement was made at Facebook's F8 developer conference.
Zuckerberg said, "This is going to be for building real, long-term relationships - not just hook-ups". Essentially, Facebook said that it plans to get into the dating business.
Apart from the questions over how much we can trust Facebook with our data, there also remain questions about how Facebook dating could amplify numerous problems that already plague the platform.
In a straw poll, just 12 per cent of nearly 60 of my Twitter followers said they would use Facebook's dating service. 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.
"Mr. Zuckerberg, would you be comfortable sharing with us the name of the hotel you stayed in last night?"
Facebook has revealed more information about dating service in a blog post which states that "However, what people do within the dating feature will not be shown to their friends".
Fed calm over 2% inflation shows hikes will be gradual
It also kept alive bets it will announce a second hike this year at its next meeting in June. Higher interest rates would help tamp down inflation but also could slow economic growth.
This comes after the 33-year-old testified before Congress last month for about 10 hours over two days.
And more importantly, all communications within the dating service, the messages send, will remain separate from the existing messaging services - Facebook Messenger and WhatsApp.
"What people do within the dating feature will not be shown to their friends", Facebook said in a statement announcing the new feature, which is now slated to roll out later this year.
Then there's also the curious case of Facebook ads. Dick Durbin (D-Ill.) posed to Facebook founder/CEO Mark Zuckerberg's congressional hearing in which the latter responded with an awkward "no". A Twitter user who reported the incident to Facebook on behalf of another woman said the engineer was "likely using privileged access to stalk women online". According to a video NBC News shared from the F8 conference featuring Facebook Chief Product Officer Chris Cox, just like with other online dating sites, you would create a dating profile.
Users of the Facebook dating site will also have the option to discover matches via interests in Groups or Events. Which looks to be yet another step that the company is taking to address any possible privacy concerns that might arise collecting more user information. The plan is to boost users' engagement and increase time spent on the platform by introducing a feature that would matchmake people on Facebook. For one, people hardly use dating apps in this country, there is a lot of embarrassed silence and taboo surrounding it all.