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Match Group's stock fell down about 20% following Facebook's announcement.

Meanwhile, Hinge -- another app-based dating service -- pointed out similarities between its own app and the Facebook dating service mockup shown at the conference.

"I know a lot of you are going to have questions about this," Zuckerberg said during his keynote speech.

"We've designed this with privacy and safety in mind from the beginning." Dating profiles, in fact, won't be visible to friends or appear in News Feeds.

Nick Hayes, senior analyst at research firm Forrester, said the guidelines around its dating tools may help users feel more secure or inclined to share information, but it's not evident as of right now how else Facebook will protect user privacy.

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