7 Social Media Platform Founding Business Success Stories [2024]

Pat Walls

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Updated: November 19th, 2023

Start A Social Media Platform Founding Business

Imagine building an online realm where people congregate, network, and exchange ideas. With a social media platform founding business, this dream can become a reality.

In this venture, you'll be creating a digital platform where users can engage with one another, share content, and forge both personal and professional relationships. Think Facebook, LinkedIn, or Twitter, but with your unique twist.

While this is no simple endeavor, the potential upside is immense. Remember, you're creating more than just a website—you're designing an entire interactive ecosystem, and the more engaging it is, the greater the chance for high user registration and retention.

For those with a knack for technology and a keen understanding of what drives social interactions, creating a social media platform can be an exciting challenge. In the dynamic digital landscape, your platform might just be the next big revolution, rewarding you with social influence and substantial revenue in return.

Here are some real life success stories of starting a social media platform founding business:

1. FailTell ($13.2K/year)

Swagat Mohanty, co-founder of FailTell, came up with the idea for the business when he realized that there was no platform where people could share their "failure" stories or life experiences. Recognizing the interconnectedness of health, career, and mindset, Swagat and his co-founder Rahul Mohanty launched FailTell as a social community centered around inspiring stories. With a strong social media presence, collaborations with motivational speakers, and a revamped website offering additional services, FailTell has attracted 11,000 users and achieved profitability within just one year.

How much they make: $13.2K/year
How much did it cost to start: $700
Current team size: 6

Our Profitable Website Helps People Overcome Failure [11K Users]

FailTell, an online platform offering a wide range of services for personal, emotional, and professional growth, has achieved 1,100 monthly active users, 220+ experts, and a user base of 11,000, with its most popular service - Career Mentoring - since launching a year and one month ago, offering affordable and accessible quality support to users with mental health, career, or everyday concerns.

About

Swagat started FailTell over 3 years ago

Revenue

Swagat grew the business to $1.1K/month

Costs

It cost Swagat $700 to start the business

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So... can you actually make money with a social media platform founding business?

Of course. There are millions to be made in this industry.

But how?

Research real, profitable businesses and see exactly how much money they make.
Study exactly what works, and what doesn’t.
Take action, because now you have the roadmap.

Join Starter Story and build your next big thing:

Start Now

4. eclincher

Best social media management platform, with tools like content calendar, post scheduling, social inbox, analytics, suggested content & team collaboration.

Website traffic: 200K/month

5. Khoros

Our software helps you deliver the best customer experiences by building and scaling digital care, social marketing, and brand communities. Click to begin!

Where they're located: Enxalé, Região de Oio, Guinea-Bissau
Website traffic: 260K/month

So... can you actually make money with a social media platform founding business?

Of course. There are millions to be made in this industry.

But how?

Research real, profitable businesses and see exactly how much money they make.
Study exactly what works, and what doesn’t.
Take action, because now you have the roadmap.

Join Starter Story and build your next big thing:

Start Now

7. oktopost

B2B Social Media Management Platform to manage, monitor & measure all of your social media activities. Reach your B2B marketing goals. Book A Demo.

Website traffic: 60K/month