Millennials have been accused of being individualistic and self-centred. However, some seem to be different; Billy McFarland is one of those. After hanging out with his friends, he realized that they all wanted to enjoy some of the services accorded to black card holders. However, given the limitation of funds, black cards such as that of American Express are not affordable to the younger people. He invented Magnises in 2013 when he was only twenty-three.
Magnises is a social club for young people who want to expand their professional networks through social integrations. McFarland developed a black card that Magnises offers to its members. This card uses the exiting credit and debit cards of the holder to facilitate payment. With the card, the members can have access to high end events and facilities at rates that are low and affordable.
Members also interact in the member space. Billy McFarland has also developed a mobile app that recommends cool events, activities and places based on the personal preferences of the Magnises member.
He has put up an infrastructure in place to finance all the activities. Magnises charges an annual membership fee is $250 but one could also pay $25 per month. It also raises funds through advertising on their mobile app.
Billy McFarland has also partnered with various companies such as Samsung whom he charges to advertise on the app. Others such as hotels allow discount to Magnises members in an aim to increase their popularity. Billy McFarland is determined to offer the best to Magnises members. He is very selective on the companies he partners with.
Magnises has over 12,000 members. Given its operation and offers, it is in high demand among millennials. However, membership is by invite only and there is a selection process in place. This ensures that each member has something to offer to the rest since they all come from different professions and backgrounds.
According to Crunchbase, through Magnises, Billy McFarland has enabled millennials to greatly expand their social and professional networks. This has progressed their careers and lives. McFarland is a millennial who looks after his own.