Billy McFarland is a young entrepreneur that has already come a long way in his career by just 25 years old, starting up a couple of his own companies which have been widely successful. Today, is is the founder and CEO of both Spling and Magnises, with Magnises being his big hit.
Magnises functions as a high class social club for wealthy individuals between the ages of 12 and 34 years old. Membership at Magnises also comes with exclusive access to the clubs black card. This card not only racks up rewards points for being used at dozens of different locations, but can be linked to an individuals bank account for easy use.
For millennials with active socials lives, the black card is the perfect accessory to show them the finer things life has to offer. Not only does the card allow for many discounts, but also allows members to take part in exclusive events, rewards, and even vacations.
Billy got his inspiration for the black card by looking at similar companies that offered rewards for using their cards, such as American Express. Instead of following suit, he decided to target the generations millennials, as there is not much out there for the elite working class to take part in. Not to mention it’s a way for individuals to show off their status and wealth.
According to Crunchbase, Billy McFarland founded Magnises back in 2013, and since then the company has managed to build partnerships with over 50 different businesses that offer exclusive perks to black card holders. With an annual fee of just $250 dollars, the black card pays for itself with all the rewards that come with it.
Today, Magnises resides in Manhattan in the Rivington Hotel, which was a move to appeal to the generations leading professionals. The penthouse for Magnises also functions as a social lounge and club for its members, giving them a place to organize private events, parties, and even meetings. In the near future, Magnises will continue to expand into new cities to bring the experience to more millennials of the generation.