Billy McFarland is an American Tech Entrepreneur born in 1991 in New York City and lived in Short Hills, New Jersey. At just 3 years, he had founded Spling, an online outsourcing enterprise that matched designers and clients. At 23, he founded the Magnises Black Card, an exclusive social club that enables members to access exclusive deals and special events.
The Emergence of Magnises
According to Bloomberg, Billy McFarland officially launched the Magnises Black card on March 1, 2014. The card was aimed at creating a technology based and community-oriented platform offering perks, cachet, and guidance so as to improve the daily lives of the members.
The Magnises has already attracted partnership with various restaurants like Catch and La Esquina, clubs Goldbar and Finale, and spin studio Cyc.
The social club already has more than 6,000 members who pay a yearly membership fee of $250 for the black card. The card is tied to a mobile app that helps you select an activity and access instant deals.
Features of Magnises Black Card
Magnises black card is not actually a credit card but works by activating your existing debit or credit card to the heavy metal Magnises black card.
It basically targets the millennial generation with over 85% cardholders aged between 21 and 29 years old. However, there is no segregation on the occupation or income.
The perks are about social life with over 50 partnerships with the common goal of enhancing the daily lives of members.
The Magnises has a club house on Greenwich Avenue, West Village, which acts as a home base for members. The space is open for members to hold meetings, hang out, watch games etc. in addition to hosting numerous events during the night.
Magnises is backed by smart people with investors and advisors like Lance Weaver, ex-chairman of Mastercard; Bill Gray, ex- president and CEO of Oglivy & Mather; and Kevin Liles, former president and CEO of Def Jam.
The company now plans to launch in ten additional cities within the next one year, including Washington, DC.