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Students must select test optional on their initial application to the University of Evansville.
By selecting test optional, students will be reviewed based on the high school transcript to include but not limited to GPA, curriculum, and graduation track (AP, IB, Honors, etc.).
Match Group Inc shares closed down more than 22 percent.
IAC, Match Group's parent company, dropped more than 17 percent.
Facebook said in January that at the end of 2017 time spent by users had fallen by about 50 million hours a day, after changes designed to reduce passive video watching and stem the spread of sensationalism.
A Crash Course in Online Dating for the Technically Challenged 5 Age-Defying Dating Tips Children as Gatekeepers?
More details will be revealed over the next few months, Facebook Chief Product Officer Chris Cox said in a separate presentation.
Cox said he had been thinking about a Facebook dating feature since 2005, when he joined the company about a year after its founding.
Match, the owner of popular mobile dating app Tinder and Ok Cupid, calls itself the "global leader in dating" on its website.
"But the initial functionality looks relatively basic compared to those offered by Match's services, so the impact Facebook has on the dating space will be down to how well it executes in this area," Cordwell said.