Market swipes left on Match, Tinder as Facebook swipes right on dating

Match fell 22 percent - its largest one-day drop ever - and IAC, which owns more than a fifth of Match, fell nearly 18 percent in its biggest daily loss in about 13 years

Like an old flame wrecking a first date, Facebook burst in on the matchmaking scene on Tuesday and sent investors in rival apps on a panicked rush for the door.
 
Shares of Match Group and its parent IAC  plunged, wiping some $5 billion off their combined market values, after Facebook Chief Executive Mark Zuckerberg said his social media platform would develop its own dating app to rival Tinder, Match and others.
 
Tinder became known for users swiping right on their cellphones to indicate interest for a potential match and swiping left to reject someone.
 
Match fell 22