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Facebook’s entry into the growing online dating market sent shares of industry leaders tumbling.

However, “I’m sure it will make good use of the data Facebook has been able to collect about its users,” she added.IAC, Match Group’s parent company, dropped more than 17 percent.Sparks Networks, owner of JDate and Christian Mingle, fell 7.3 percent before recovering and closing up 0.8 percent.“But the initial functionality looks relatively basic compared to those offered by Match’s services, so the impact Facebook has on the dating space will be down to how well it executes in this area,” Cordwell said.Facebook said in January that at the end of 2017 time spent by users had fallen by about 50 million hours a day, after changes designed to reduce passive video watching and stem the spread of sensationalism.

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Facebook chief Mark Zuckerberg announced the world's largest social network will soon include a new dating feature -- while vowing to make privacy protection its top priority in the wake of the Cambridge Analytica scandal.

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