Match Group, Inc. (NASDAQ:MTCH) shares are trading lower on Monday after Facebook Dating added new features.
What To Know: Facebook Dating is introducing two features — Dating Assistant and Meet Cute — designed to help users avoid swipe fatigue and connect in new ways.
MTCH is among today’s weakest performers. Watch the momentum here.
Dating Assistant is a chat-based tool inside Facebook Dating that provides personalized match recommendations based on interests, preferences and custom prompts. For example, users can type "Find me a Brooklyn girl in tech" and receive tailored suggestions. The assistant can also offer dating ideas and profile tips.
Meet Cute automatically delivers surprise matches through Facebook's matching algorithm. Users can choose to chat with their match or unmatch and pass on the conversation. The feature will initially provide weekly matches, with more frequency options being explored.
Facebook said hundreds of thousands of young adults in the U.S. and Canada create profiles each month, and young adult matches are up 10% year-over-year. The company added that the new features aim to make dating easier and more enjoyable without relying on endless swiping or paid add-ons.
MTCH Price Action: Match shares closed Monday down 5.40% at $36.43, according to data from Benzinga Pro.
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