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Is Facebook destined to be a dating site for old people?

Facebook wants you to make friends. And now it wants you to find our soulmate.

Founder and chief executive officer Mark Zuckerberg said during Facebook’s FB, +1.49% annual conference on Wednesday that the biggest social media site on the planet would launch a dating feature later this year. “Today, we are announcing a new set of features, coming soon, around dating,” he said. “This is going to be for building real, long-term relationships, not just hook-ups.”

The company is entering a crowded space: The dating industry is worth around $3 billion, with revenue split between advertising and subscription services, up revenue up around 5% per year, according to a report by research firm IBISWorld.

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