Social Media Platforms (SMPs) are highly interactive platforms where individuals and communities share, discuss and collaborate ideas, information, videos, photos etc. to each other. In these platforms have millions of online users which interact with each other and significantly affect each other's behaviour, attitude, and habit etc. SMPs are used many areas to advertising, client relations, tourism, journey, and many others by means of users or organizations. Therefore, selection of SMPs is an important Multi Criteria Decision-Making (MCDM) problem. In this study, we have handled the selection and ranking of SMPs from the perspective of undergraduate students, who are one of more active and affected age groups of them. In addition, we aimed to analyse the effect of both the MCDM methods, and the weights assigned to the criteria on the selection and ranking with 5 different approaches which are called Factor Analysis and Analytical Network Analysis (FA+ANP), FA and Complex Proportional Assessment (FA +COPRAS), ANP+COPRAS, FA and Grey Relations Analysis (FA+GRA), and ANP+GRA. Thus, we have evaluated more important criteria and more preferred SMPs with these approaches. In addition, we can emphasize that our study will guide policy makers for updating or adding new features to SMPs.