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14-Nov-2019 19:08

"But more importantly they don't want to be contacted by strangers on a social network meant for connections with friends and family." Facebook announced earlier this month it's prepping a separate dating feature to live inside the core Facebook app.The feature includes an event-based system for pairing that's unique to the space.Skittish singletons can then look the person up on Facebook, if they have mutual friends, and find out more about them.In announcing its own dating service, Facebook has essentially cut out the middle man.“Given that they’re mining huge amounts of data about consumer behavior and individual identity, it makes business sense to harness the algorithms for matchmaking—especially given that Tinder and other dating platforms already use Facebook as their screening tool.But Facebook faces the same unenviable task as every other dating site.“This is going to be for building real, long-term relationships, not just hook-ups.” The company is entering a crowded space: The dating industry is worth around billion, with revenue split between advertising and subscription services, up revenue up around 5% per year, according to a report by research firm IBISWorld. But it has one big advantage: More than 2 billion members around the world.

"Dating is so personal and we see people gravitate to brands they trust," Ginsberg said.

(That’s useful, given that so many people tell fibs on dating sites.) Users will not be matched with friends on Facebook, but rather others who have marked themselves as “single” on the social media network.

Also see: What NOT to do on a dating website But who will actually use the feature?

“If they’ve already been using Facebook and feel comfortable with the format, this will be an easy transition for someone reentering the dating market.” This is an increasingly lucrative market.

Online dating is growing in popularity for people in their 50s and older, according to the Pew Research Center.

"Dating is so personal and we see people gravitate to brands they trust," Ginsberg said.

(That’s useful, given that so many people tell fibs on dating sites.) Users will not be matched with friends on Facebook, but rather others who have marked themselves as “single” on the social media network.

Also see: What NOT to do on a dating website But who will actually use the feature?

“If they’ve already been using Facebook and feel comfortable with the format, this will be an easy transition for someone reentering the dating market.” This is an increasingly lucrative market.

Online dating is growing in popularity for people in their 50s and older, according to the Pew Research Center.

Shares of Match and its parent company IAC tanked immediately following the news.