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A dating service could increase the time people spend on Facebook and be a “big problem” for competitors such as Match Group Inc, said James Cordwell, an analyst at Atlantic Equities.

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“There are 200 million people on Facebook that list themselves as single, so clearly there’s something to do here,” Zuckerberg told software developers at Facebook’s annual F8 conference.

Facebook shares rose 1.1 percent to close at $173.86 on the news, which sparked a sell-off of established online dating service providers.

Facebook users have been able to reveal their relationship status on the network since it first went live in February 2004.

Zuckerberg said Facebook was building the dating service with an emphasis on privacy, a sensitive subject for people who use dating websites and for Facebook as the company reels from a scandal over its handling of personal information.Cox also mentioned a feature called “unlocking,” which will let any user of Facebook’s dating platform make his or her profile visible to other attendees of events or members of groups.From there, messaging takes place in distinct chat threads separate from Facebook Messenger.Potential matches will be recommended based on dating preferences, things in common and mutual friends, Facebook said in a statement.The prototype was built around local, in-person events, allowing people to browse other attendees and send them messages.Cox says Facebook will announce more information, including a release date and rollout info for the dating features, later this year following a testing phase.

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