Billy McFarland started his career by dropping out of Bucknell University and launching his first business, Spling, in 2010. Spling is an advertisement platform which allows individuals to change a URL link into an image montage. Some of the biggest clients are Universal, Hearst, and Discovery.
In 2013 he launched Magnises, an elite social club in the form of a Black Card. This card is made from metal rather then the traditional plastic and is fairly heavy to carry around. While it is not linked to any specific financial institutions, members can link the card to their own credit or debit accounts.
The main attraction of this card is the various discounts and special offers that are only available to Magnises members. Offers for restaurants such as La Esquina and Catch, helicoptor rides to the Hamptons, and private parties at the Magnises headquarters are just some of the perks available to members. Millennials are the target demographic, and all applicants are required to fill out an online application.
According to The Guardian, a year after starting this business, Billy McFarland had 6000 members paying a low annual membership fee of $250. The business is growing and recently moved it’s headquarters from a townhouse in New York’s West Village to the Hotel on Rivington.
The move has allowed Billy McFarland to expand a few of the amenities Magnises offers to include office space during the day as well as catering and open bar services during cocktail parties in the evenings. The company is planning on expanding it’s consumer base by launching it’s services in ten new cities in the next twelve months.
They have already signed an agreement with the Embassy Row Hotel in Washington DC.