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Mark Zuckerberg. Photo: Josh Edelson/AFP/Getty Images.

Facebook rolled out its new dating vertical, called Facebook Dating, in Colombia on Thursday.

Why it matters: Its potential is huge — Facebook says 200 million users identify as single on their profiles, per Recode.

The details:

  • CEO Mark Zuckerberg wants the dating service to be for meaningful relationships, not hookups, and a majority of Facebook users polled said they would be interested in such a service.
  • The system is centered around an algorithm-powered home screen of suggested romantic matches based on everything Facebook knows about users that other apps don’t, per TechCrunch.
  • Users 18 and older will be able to create dating profiles and, once those reach a critical mass, find some matches, according to Wired.
  • There won’t be any swiping to match with profiles, unlike Tinder and Bumble.
  • The service doesn’t require downloading an additional application to your phone.
  • Facebook restricts potential matches to people located less than 100 kilometers (62 miles) away.
  • The company plans to expand the service to other countries, including the U.S., in the future.

Yes, but privacy concerns still loom over Facebook following the Cambridge Analytica scandal, and the company will need to manipulate its data to run this service.

The bottom line: Facebook's service is currently free, but there is a potential market for subscriptions. Tinder, a subscription-based dating app that launched in 2012, will make more than $800 million in revenue in 2018, per Recode.

Go deeper

Tony Hsieh, longtime Zappos CEO, dies at 46

Tony Hsieh. Photo: FilmMagic/FilmMagic

Tony Hsieh, the longtime ex-chief executive of Zappos, died on Friday after being injured in a house fire, his lawyer told the Las Vegas Review-Journal. He was 46.

The big picture: Hsieh was known for his unique approach to management, and following the 2008 recession his ongoing investment and efforts to revitalize the downtown Las Vegas area.

Dan Primack, author of Pro Rata
3 hours ago - Economy & Business

The unicorn stampede is coming

Illustration: Annelise Capossela/Axios

Airbnb and DoorDash plan to go public in the next few weeks, capping off a very busy year for IPOs.

What's next: You ain't seen nothing yet.

16 hours ago - World

Maximum pressure campaign escalates with Fakhrizadeh killing

Photo: Fars News Agency via AP

The assassination of Mohsen Fakhrizadeh, the architect of Iran’s military nuclear program, is a new height in the maximum pressure campaign led by the Trump administration and the Netanyahu government against Iran.

Why it matters: It exceeds the capture of the Iranian nuclear archives by the Mossad, and the sabotage in the advanced centrifuge facility in Natanz.