Back in 2013, Billy McFarland founded the company, Magnises, a young man just in his twenties. There are many out there who would call Billy a prodigy, due to the fact that he got started in the industry at just 13 years old, when he started his first company that was focused on matching businesses with clients.
Following this he went on to briefly attend Bucknell University out of Pennsylvania, majoring in computer engineering.
According to Crunchbase, during his freshman year of college however, Billy McFarland dropped out because he had founded Spling, a company which is now located in NJ. Spling operates as an online advertising company for businesses selling their products, letting their advertisers create images out of their hyperlinks.
Magnises, Billy company, functions as a social club for super wealthy millennials, which depicts people who were born between the years of 1982 and 2004. The large majority of these members are within the industries of technology, fashion, and finance, all of which are required to pay an annual membership fee of $250 dollars. The Black Card members also have the ability to attend private concerts as well as luxurious getaway places.
There are many businesses out there that have joined up with Magnises and built partnerships, including companies such as La Esquina, Goldbar, and Finale. Today, Magnises works with over 6,000 different members, including users of the app they have, which is a handy tool that allows members to look up events and find deals for attendance.
Despite its humble beginnings in West Village, Magnises is headquartered in a penthouse in a luxurious hotel in Rivington, which also acts as a clubhouse for its members, and much more.
First starting out, Magnises and its black card only covered New York City and Washington DC, but they have recent plans for expansion that will have the company moving into almost a dozen new cities, including Los Angeles, Boston, London, Chicago, and more. The company managed to raise more than $3 million to fund the expansion and has become self sustaining from memberships.