Match Group Sinks as Facebook Announces New Dating Feature

(Bloomberg) -- Tinder and OKCupid parent Match Group had its worst day in more than two years, plunging as much as 21 percent, after Facebook Inc. Chief Executive Officer Mark Zuckerberg said the social-media network will roll out a new dating app.

Zuckerberg said the app, which will be completely optional and opt-in only, will “be for building real, long-term relationships — not just for hookups.” The move was announced at the company’s F8 developers conference in San Jose, California.

IAC/InteractiveCorp., which owns 21.6 percent of Match Group fell as much as 14 percent at 1:57 p.m. in New York. Facebook was down 1 percent.

--With assistance from Morwenna Coniam

To contact the reporter on this story: Gregory Calderone in New York at gcalderone7@bloomberg.net.

To contact the editors responsible for this story: Arie Shapira at ashapira3@bloomberg.net, Courtney Dentch

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