The cost of building a social media platform is determined by various factors, such as the complexity of features, the location of hired specialists, the scale of the product, the chosen technology stack, and the level of customization needed. Development and design elements, including features like user profiles, messaging systems, and news feeds, as well as the UI and UX, play an important role in determining the overall cost. For instance, if you’re planning to build an MVP first, it may cost you $35 000 — 42 600 in case you outsource to one of the countries of Eastern Europe, like Ukraine. The full-fledged may cost $61 600 — 72 000.