Facebook working on a dating service; Match Group shares decline

Facebook wants to use its data for matchmaking.

    Facebook CEO Mark Zuckerberg at the annual developer's conference announced that the social media giant is working on a dating service which will be launched soon, reports Reuters.

    Facebook working on a dating service; Match Group shares decline

    There isn't much information about the new service available right now, but Zuckerberg's statement was enough to send the stock of Match Group down by 18 percent. Match Group owns the popular dating apps Tinder, OkCupid, and Match.com.

    A dating service from Facebook makes absolute sense; in fact, it's surprising how the company didn't start the service earlier. Most of the major dating apps such as Tinder, Hinge, Bumble, Coffee Meets Bagel, and Feeld ask users to connect to Facebook to create a profile. If Facebook starts a dating service, it would eliminate the other apps.

    It is difficult to determine how the service would work, but considering the amount of data Facebook has on the users, it would make matchmaking a snap.

    Besides, Facebook is building a new team to develop its own semiconductors if the new job listings and sources that spoke to Bloomberg are to believed. The company would go head to head with other major players such as Apple and Google who recently invested in producing their own chips.

    According to the job listing, Facebook is looking for a manager to create an "end-to-end SoC/ASIC, firmware, and driver development organization." That role will look after the team responsible for hardware, AI software or servers, Bloomberg noted. Facebook AI researcher Yann LeCun tweeted about a different role creating chips for AI. By jumping into the processor manufacturing, the company could be looking to gain some share in the hardware market as well.

    The company is also said to have delayed the launch of its smart speakers which were slated for a launch at Facebook's F8 developer conference in May following the data scandal. Bloomberg report noted that "now may be the wrong time" to expect users to trust the company by placing an always-listening device in their homes, considering the ongoing data scandal.

    In August, Bloomberg reported few details of the smart speakers. They are said to feature a video-focused device codenamed Aloha which will possibly be called Portal. The device is expected to come with 15-inch touchscreens manufactured by LG. It will also have a standalone speaker that would be priced lower than the former.

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