What's going on?

It�s a match! Facebook is moving into the world of e-romance. At its F8 web developer conference on Tuesday, the social network�s CEO unveiled plans to launch a new service in Facebook�s mobile app: called, creatively, �Dating�.

What does this mean?

Dating is supposedly part of Facebook�s drive to push users� attention away from low-quality viral content and towards more �meaningful� connections. Regardless of whether $40 worth of drinks and a few awkward silences qualifies as a �meaningful connection�, the new service, which will match up users based on common interests, has the added benefit (for Facebook) of appealing to a rapidly aging user base currently spending less time on the Social Network.

Investors didn�t seem to think the prospect of Facebook matchmaking its two billion-plus users was good news for e-dating incumbents like Tinder: shares in its parent company, Match Group, wiped out gains made earlier this year to end Tuesday down a decidedly unromantic 20%. [Tweet this]

Why should I care?

For markets: In other Facebook-crushing-competitors news…

Shares of Snapchat owner Snap Inc. fell as much as 20% on Wednesday after the company reported slumping growth in daily users and warned that revenue from ad sales could continue to decline this year. Instagram and WhatsApp � both of which are owned by Facebook � are credited with gnawing into Snap�s user growth with their Stories and Statuses features, respectively.

The bigger picture: Interests include cycling, baking, profiling of user data…

In the wake of the Cambridge Analytica data scandal, Facebook appears to be offering users an olive branch through a new service designed to, er, algorithmically analyze and categorize their profiles. Some investors aren’t sure it makes much sense either. Facebook, for its part, has said that it won�t share user data from Dating for targeted advertising. Of course, people say a lot of things when they first start dating…