Which is it better and more effective to your company, to have a Company website or a company profile on any of social media platform?

I have a startup that I will shutdown in the next few weeks because of the inability to raise funds in GCC (great productbut wrong market).

The answer depends on the nature of your business. 

If your business is a B2B, then having a presence on social networks will contribute to the emotional quotient (emotional intelligence) of your brand and its identity. Social networks should be there to add value to your website.

Your website should contain the mission statement, whitepapers, processes and benchmarks explained.

If you are a startup, partner, proprietor, professional practice, then social network brand pages are more effective because they give the brand and its owners a digital brand persona. SNcan be used to deal with customers on a1 to one basis through DM, messages etc. 

The website should exist but for SEO/SEM reasons so that you get that high ranking and more web traffic. 

I think that , it depends on the company itself , if the company wants to be in touch with the customers, to help them or even notify the company about something that needs to be done , or the company wants a professional looks,or even the company doesn't care much about connecting with customers. But , i prefer the first one because i like to be in touch with the customers .