Market Swipes Left on Match, Tinder as Facebook Swipes Right on Dating
Partner Content By Reuters | May 1, 2018 — 3:47 PM EDT
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Like an old flame wrecking a first date, Facebook Inc burst in on the matchmaking scene on Tuesday and sent investors in rival apps on a panicked rush for the door.
Shares of Match Group Inc and its parent IAC plunged, wiping some $5 billion off their combined market values, after Facebook Chief Executive Mark Zuckerberg said his social media platform would develop its own dating app to rival Tinder, Match and others.
Read more: Market Swipes Left on Match, Tinder as Facebook Swipes Right on Dating | Investopedia
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