According to g.2.A.ii (in the definition of “covered company”), the law only applies to social media with more than 1,000,000 monthly active users. Not sure why that’s included.
I'm glad clauses like this are common. We don't want some teenager who wants to experiment with creating a "social media" website for his friends to have the full weight of the law immediately fall on their shoulders. People should be free to create website with minimal legal requirements, especially if it's a small website.