Billy McFarland is the millennial man. He has been able to fashion the perfect platform for millennials to come together as a force and receive discounts and perks via his Black Card program with his company Magnises.
Formed in 2013, the company is designed to provide special perks and discounts at various restaurants, clubs, bars, fitness centers, travel opportunities and events. Members can also schedule meetings and special events on a local basis for their businesses, organizations and even for general purposes.
The program is similar to that which American Express offers, except it is geared more to a local setting, which millennials love. Millenials also love networking together, as they gain valuable information and connections which help them in their businesses and careers, as well as politically.
The Black Card is the key, as people carry their debit and credit cards with them all of the time, the Black Card is a simple addition. Designed to hold all of the original card’s information, the Black Card is then used for discounts and perks at various venues on a local basis. Perks may include a free bottle at a restaurant or special seating at an event.
For example, Tesla recently hosted a test drive for members at a race track where new prototype cars were made available for an afternoon.
As of year end 2015, Magnises had over 10,000 members in the New York City and Washington DC areas, with plans to expand soon to Boston, Chicago, Los Angeles, Atlanta, and London. A recent infusion of cash of $3 million from venture capital is going to fuel the expansion plans.
According to Bloomberg, Billy McFarland is no stranger to successful business startups. At the tender age of 13 he started his own company which matched a local service company with qualified clients.
As a freshman student at Bucknell University, he formed Spling, a firm that uses a unique approach in the redesigning URLs into a graphic mosaic, making the URL more distinctive. The company is still in business, and Billy McFarland is the CEO.
The future is bright for Magnises, as millennials are wildly enthusiastic about the Black Card.