Facebook testing its dating service in Columbia
Facebook (FB) is testing its much-anticipated dating service in Colombia before it considers bringing it worldwide. The service will not have the swipe function like Tinder. Instead, it’s based on algorithms that screen possible matches based on the user data Facebook already has.
That could give Facebook an advantage over other dating services. Facebook stock rose 1.4% after the news. The stock of Tinder’s parent company Match Group (MTCH) has fallen 5% since the news surfaced.
Facebook is not monetizing the service right away
Facebook claims it’s not trying to compete with Tinder, which is mostly used for hook-ups. Instead, it’s looking to compete with the likes of Match Group’s Hinge to find the user a life partner.
Facebook users in Columbia will be able to make a dating profile on the platform. However, Facebook won’t start making matches until there are enough users.
Facebook won’t monetize the dating service right away, but if it becomes popular, it could prove to be profitable and be a new stream of revenue for the company, which is seeing a slowdown in its user base.