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"Our executive team has already reached out to Facebook to explore ways to collaborate.

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it allowed users to send money to friends on the platform, as the social payments company Venmo does.

Facebook-owned Instagram has taken on many of Snapchat's top features.

On Facebook's dating service, people will be able to browse events and groups related to their interests, such as upcoming concerts or groups for runners.

If a user sees an event they'd like to attend, they will be able to "unlock" that event to interact with others attending it.

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Beyond creating new competition for popular dating apps like Tinder, Hinge and Bumble, Facebook's move will pose a test for them because they have largely come to rely on asking their users to login with Facebook credentials.

This grants the apps access to select Facebook data, which helps to speed up the process of creating dating profiles.

Related: Tinder to introduce feature for women to message first The degree to which dating apps are reliant on Facebook access came into the spotlight just last month.

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