Billy McFarland seems to have been born to be a success. At the age of 13, he started his own company that obtained clients for a local business. As a freshman in college at Bucknell University in Pennsylvania, he founded a company called Spling. Here the ideas were to take a company’s URL and change it into a graphic, making it much more brand friendly and efficient.
Spling is still in operation and profitable, as McFarland is the SEO and the company is doing well. Most recently, Magnises was formed which is a platform for millennials to connect through a series of discounts, perks, and bonded interests. The magic of Magnises is that for just $250 a year, an individual gains entry to most of the favorite haunts, clubs, bars, stores, events and other promotions that millennials are frequenting anyway, only now at very attractive discounts.
The whole idea revolves around the Black Card which transfers all of the member’s information from his credit or debit card onto the magnetic strip of the Black Card. This is then used at the varying venues and establishments to achieve the discounts and perks. It is not uncommon to receive a complimentary bottle of wine at a restaurant or preferred seating at an event due to membership.
Formed in 2013, Magnises has really taken hold in New York City, the home base of the company. At the end of 2015, there were over 10,000 members of the program and counting. Millennials like to gather together anyway and share ideas, new concepts and generally to hang out together.
According to Forbes, with a new infusion of cash of over $3 million from venture capitalists, Billy McFarland has his eye on expansion to other cities where millennials have the same social habits as New York. Boston, Atlanta, Chicago, Los Angeles and London are prime locations.
The Black Card, along with a new app which accomplishes the same thing, gives millennials something in common that is rather exclusive. Targeting busy professionals, entrepreneurs and the like, the goal is to cement relationships and grow together.
According to Billy McFarland, the sky is the limit, as he has found a formula that works and there is no reason to assume otherwise out into the future.