Match Group stock has rallied somewhat following a sharp decline in value when Facebook announced its dating feature.
The price initially declined from $47.12 on 30th April to $34.58 on 2nd May. It has since recovered to $40.54 at the time of writing.
Facebook has not announced a deployment date for its dating interface, only stating that it will begin testing this year.
There is some speculation that the social media giant will look to target an older demographic than Tinder – the unveiling showed a woman in her 30s as an example of a profile.
Match Group umbrella IAC said in its response to Facebook’s entry:
“A single new competitor, even a powerful one, cannot just uproot us – our fate is in our own hands.
“No matter what our competitors may do, or large internet platforms may announce, we have tens of millions of people all over the world who visit our brands every month to find like-minded people with the express purpose of finding a relationship.”
The Q1 earnings presentation for Match noted a number of new Tinder features, including the introduction of location-based connections with Places.
Find MTCH stock information here.