Billy McFarland is a mere twenty-three years old, however, he possesses the genius of putting together a Millennial professional social network and great deals, for his young professional clientele. He does so by way of his stylish Magnises black card.
The card can be linked, too, to a credit card—in order to pay for purchases. The card’s draw, though, is the exclusivity it provides the Millennial crowd, in taking advantage of the company’s stylish Penthouse location, for networking and get-togethers, where late night DJ sets are conducted and other social events.
The card also has deals attached to it. It makes living in the city—more favorable for the young professional. The young professional, merely, shows his black card to participating eateries, clubs and other places, where it is accepted—and in so doing, he or she acquires discounting.
Billy stated that the company was involved in constructing a platform which connected millennials with that of new businesses. Many trendy eateries have signed up in partnership with Magnises. Members, too, receive discounts on helicopter trips, to the Hamptons, and private concerts.
Magnises now has more than six-thousand members signed up. There is a $250 annual payment in order to carry the black card. A mobile App is tied to the membership of Magnises.
The targeted market, according to McFarland, is comprised of working professionals between 21 years of age and 35 years of age. The prospect fills out an online application and subsequently is approved by the Magnises team—before becoming a member.
According to Forbes, Billy McFarland states, the company wants an individual who truly wants to network with other like professionals and attain deals at all of the city’s most significant venues.
The penthouse location of Magnises is at the Hotel on Rivington, on the city’s Lower East Side, in New York. Magnises plays host to many events, at the penthouse. It provides its members with cocktail hours and late night social arrangements—in the form of DJ sets. The hotel provides catering and an open bar, too.
Billy McFarland plans on launching Magnises locations in ten more metropolitan markets within the next year. He plans on beginning with Washington, DC.
Billy McFarland states that the company is generating enough in revenue—so they will not be looking in the direction of raising more funds—at any time, within the near future.