Social Media Platform Founding Business

Social Media Platform Founding Business Success Stories [2024]

Pat Walls

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Updated: October 7th, 2024

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.

In this list, you'll find real-world social media platform founding business success stories and very profitable examples of starting a social media platform founding business that makes money.

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 money it makes: $13.2K/year
How much did it cost to start: $700
How many people on the team: 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.

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