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It’s not clear, however, whether Facebook will charge for the dating service and, if so, how much. (charged .95 per month when it launched in 1995.) Today, dating sites can charge between and per month, depending on the length of the subscription.Shares of Match Group which owns Tinder and Ok Cupid, were down 9.6% Tuesday following Facebook’s announcement.Several major online dating platforms—including Tinder, Hinge, and Bumble—use Facebook’s platform to connect profiles to dating profiles, using photos and first names in the app.Skittish singletons can then look the person up on Facebook, if they have mutual friends, and find out more about them.Even though a Facebook dating service could act in the same way as other location-based dating apps, people know it mostly as a familiar and unthreatening place to talk to friends. “There are millions of singles in this demographic who want to meet someone but have reservations about using dating apps,” she said.“If they’ve already been using Facebook and feel comfortable with the format, this will be an easy transition for someone reentering the dating market.” This is an increasingly lucrative market.Also see: What NOT to do on a dating website But who will actually use the feature?Meredith Golden, a dating coach based in New York City, said she believes the new feature will be used largely by divorcees and users over 40 who may be less likely to use other online services.

“Given that they’re mining huge amounts of data about consumer behavior and individual identity, it makes business sense to harness the algorithms for matchmaking—especially given that Tinder and other dating platforms already use Facebook as their screening tool.

Still, online dating is still much more common in younger generations, with the share of 18 to -24-year-olds using online dating services nearly tripling from 10% to 27% in that time.

Location-based apps have exploded in popularity over the last 10 years. A decade ago, many sites were free or had minimal fees of around a month.

Various studies have found that older adults are the fastest growing segment of online-dating services. So if you're looking for love, this can be an ideal option.

annual conference on Wednesday that the biggest social media site on the planet would launch a dating feature later this year.

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