single? Facebook wants to help you change your relationship status.
The social network introduces a dating feature that allows users to create profiles to meet potential applicants.
The new feature is "not just for hookups," Facebook chief executive Mark Zuckerberg said Tuesday at the company's developer conference, F8. Rather, it was developed to build meaningful, long-term relationships.
The news immediately led to a sell-off of shares associated with existing dating services. Match Group, the parent company of Match.com, saw its share fall by more than 22 percent. IAC, the mother company of the hookup app Tinder and Match Group, dropped more than 1
The panic could be short-lived, analysts said PiperJaffray in a message to customers shortly after the announcement.
Facebook is unsure success in the dating game despite its stable of more than 2 billion users. That's because the social network is older – not the main demographic for the people in the market.
"Facebook faces the challenges of the same age group that currently dominates online dating (Young Adults)," said PiperJaffray analysts. "Given the need to increase engagement, the initial engagement challenges, and the lead in the match, we think it's unlikely that Facebook dating will lead to a significant competitive threat."
Executives at Match Group and Tinder said they were not worried about Facebook's new approach and even made a ramble about the problems of the social network with outside interference.
"Come in. The water is warm and your product could be great for relations between the US and Russia," said Joey Levin, Tinders CEO, in a statement.
Mandy Ginsberg, Match Group CEO, made a push on Facebook's controversy over user privacy.
We are pleased that Facebook is entering our space, "said Ginsberg," We are surprised at the timing given the amount of personal and sensitive data associated with this area. "
Users need to look for the Facebook's dating feature will decide and their profiles will be separate from their regular Facebook profiles.
"(M) atches will be recommended based on dating preferences, shared things, and mutual friends," Facebook said in a statement. You will have the opportunity to discover others with similar interests through their groups or events. What people do in dating is not shown to their friends.
This guideline is a nod to Facebook's privacy issues as part of the Cambridge-Analytica scandal, during which the political consultancy firm could reap data from Facebook friends' friends
In a separate announcement On Tuesday, Facebook said it would allow users to delete personal information from external websites and apps on Facebook and prevent Facebook from receiving such data in the future, and that information is often tracked when a user joins in with their Facebook login You may also be collected if you like or share anything from these websites or apps on Facebook.
"If you delete your history or use the new setting, we will remove identifying information about the story websites and apps. "They will not be linked to your account," he said in Egan, vice president and chief privacy officer of Facebook, in a blog post.
The move reiterates how much Facebook has dedicated itself to self-regulation action by MPs in Washington. During Zuckerberg's statement on Capitol Hill last month, some members of the congress told Facebook to reinforce its user-privacy capabilities so regulators do not have to legislate.
"We need your help here, I do not want Congress to act." Rep. E.L. "Buddy" Carter, R-Ga., Told Zuckerberg at the time.
At F8, Zuckeberg even made a joke about the statement, which largely did not do justice to his bill as a bill for the social network.  Zuckerberg did so by describing a new feature called Watch Party that allows friends to communicate with each other while watching a show on Facebook.
"Let's say that your friend testifies in Congress, for example," said the 33-year-old billionaire executive. "Now you will be able to bring your friends together and you can laugh together and you can cry together, some of my friends have actually done that, let's not repeat that in the foreseeable future."