Facebook Inc (FB) Dating App Is Ready For Primetime

NASDAQ: FB | Facebook, Inc. - Class A Common Stock News, Ratings, and Charts

FB – Facebook’s dating app just launched in its first market, Colombia.

Facebook Inc (NASDAQ:FB) is betting that its new dating app — an alternative to hookup apps like Tinder — will prove appealing to its billions of users.

As Recode the app, which just launched in Colombia, is indeed pitted as something quite different from what’s out there now:

“This is about building real, longterm relationships, not just hookups!” CEO Mark Zuckerberg said when the product was announced back in May — an obvious jab at Tinder and its reputation as a hookup app. “We don’t want this to feel like a speed-dating session,” said Nathan Sharp, the Facebook product manager building the service, in an interview with Recode this week.

But while Facebook doesn’t want its new dating product — which rolled out in its first market, Colombia, today — to emulate Tinder’s user experience, it might be in Facebook’s best interest to emulate Tinder’s business model.

That’s because Tinder’s premium subscription tier is slated to rake in $800 million in revenues this year alone. However, Facebook Dating isn’t launching with a premium tier — and the company says it doesn’t plan to ever introduce one. That might prove to be a mistake, since consumers have proven very willing to pay for better dating app features.

Facebook Inc shares closed at $162.93 on Friday, down $3.09 (-1.86%). Year-to-date, FB has declined -7.67%, versus a 10.35% rise in the benchmark S&P 500 index during the same period.

FB currently has a StockNews.com POWR Rating of D (Sell), and is ranked #31 of 54 stocks in the Internet category.

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FB Current POWR Rating™
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FB Current Price $162.50 0.88%
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FB Price Reaction

The day of this event (Sep. 23, 2018)
FB Closing Price$165.41 1.52%
FB Volume19,222,700
21.59% from avg
Leading up to this event
FB 1-mo return5.77%
After this event
FB 1-day return1.20%
FB 3-day return3.50%
FB 5-day return0.30%

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