The Incredible Magnises Black Card
Billy McFarland is the founder and CEO of Magnises, a venture that helps people network with individuals from other industries. Magnises is a members’ only exclusive club which operates by providing members with benefits in offline social platforms. The company works by creating experiential opportunities and services to its members.
Billy McFarland says the magic in the black card lies in linking it to debit or credit cards. The members pay $250 annually to access members’ only services ranging from hotels to conference facilities. The members can now access expensive restaurants, clubs and holiday getaways all at a discount thanks to the many business partnership deals that have signed up with Magnises.
Currently standing at 6,000 members in New York and Washington D.C, Billy is always working on expanding the membership base. He does this by adding more features and benefits as well as getting feedback from the black cardholders and making relevant changes. Billy is a man who works very fast. He tries and tests what he and his staff think can be an added feature and implements it. The ever changing new features are what make the black card trend
The 25-year-old tech whiz says that Magnises targets demographics of young working people aged 21-35. The key concept is that Magnises helps to market all the large brands that have partnered with them since this age group has a purchasing power that exceeds $200 billion.
Members are enrolled once they fill out an online application form that is approved by the Magnises staff. Additionally, they use an app to know where the best deals are. Magnises’ revenues are more than $4.8 million from just two cities whereby most comes from membership fee and brand advertisements.
According to BuzzFeed, Billy McFarland represents a handful of young Americans trying to raise institutional venture capital. He has several investors including Patrick Mc Mullan, Kevin Liles, and Lance Weaver.
Born in New York in1991 but raised in Short Hill New Jersey, Billy is a graduate of New Jersey’s Pringy School. He also studied computer engineering at Bucknell University where he founded Magnises in his freshman year. Additionally, he is the founder of Spling, an online ad campaign. Other organizations he has interests in include Leadership Entrepreneurial Active Participation Foundation and the Acceleration Foundation that helps athletes transition to other industries through mentorship programs.