Shares of IAC/Inter Active Corp, the majority owner of Match, also fell 11%.
Investors in other online dating platforms appear spooked by Facebook’s move into the space.Shares of Match Group — the parent company of dating platforms like Tinder, and OKCupid — plunged as much as 19% on Tuesday afternoon following the news.A spokesperson for Bumble said the company was “thrilled” when it saw the Facebook news.“Our executive team has already reached out to Facebook to explore ways to collaborate.Setting up your profile on takes less than 3 minutes.
Simply upload your profile and start talking to single women and men in Indiana.
“Facebook could have copied swiping apps in its attempt to enter the dating space, but instead they copied Hinge,” the spokesperson said.
“It validates our anti-swipe, pro-dating movement, which we’ll continue to lead through exciting innovations that connect our members for outstanding first dates.
This grants the apps access to select Facebook data, which helps to speed up the process of creating dating profiles.
The degree to which dating apps are reliant on Facebook access came into the spotlight just last month.
At its annual developers conference, F8, on Tuesday, the company announced a new dating feature.