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The stock price for Match Group, the company that owns dating sites like Tinder, Ok Cupid, and Match.com, took a tumble after Facebook's announcement.

But the company doesn't appear worried.“We’re flattered that Facebook is coming into our space—and sees the global opportunity that we do—as Tinder continues to skyrocket.

Update: We have some more details courtesy of Facebook Product boss Chris Cox.

Users who are single and interested in dating can set up a dating profile within their existing Facebook account.

To help keep the two versions of your Facebook self separate, your Dating profile will only use your first name, and your existing Facebook friends won't appear as potential matches.

Dating will also have a dedicated inbox that, unlike Messenger, does not allow you to send photos or links.

Facebook will use a unique algorithm to match you with potential dates, based on “dating preferences, things in common, and mutual friends.” You will also be able to find romantic interests via shared Groups and Events.

If you sign up for one of these apps, you can immediately pull in your Facebook photos, and autofill information like where you live, work, and went to school.

Tinder even shows users when a potential match has mutual friends with them on Facebook.

The two profiles won’t interact, meaning your Facebook friends won’t be able to see what your Dating profile says.

And it should make dating app incumbents like Tinder and Bumble anxious.

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