Have you ever desired for a product or a service but your pocket says otherwise? Worry no more especially if you live in the East Coast cities of New York and Washington DC. Magnises and Billy McFarland has got you covered. This service, however, is for young people aged between 21 and 35 years. It also targets the young professionals working in selected industries such as technology, finance, and fashion. Billy McFarland dropped out of Bucknell University in Pennsylvania at the second year to venture into his own businesses. He was studying computer engineering at the time. He launched the Magnises in the Year 2013 and has proved to be a hit since then.
To those who have no idea what Magnises is, it’s a black card with reference to elitedaily.com, that allows you to receive discounts at designated places. The card is not to be confused with a debit or a credit card. The black card is acceptable at various places such as bars, hotels, and even co-working spaces. With this card, you can spend a night in some of the most expensive hotels at a reduced cost of $74 a night. With the same card, it’s possible to attend the best clubs in town with less than $65 a month. These were services that were only reserved for the rich and the old in the past. Prior to establishing this company, Billy had established another company called Spling. His first venture was at the age of 12, a database company that he later sold.
The annual subscription fee for Magnises is just $250. At the end of last year, Magnises had raised over $3 million from venture capitalists. At the same time, the company had over 12,000 subscriptions. Billy designated the card to even answer general questions about the service. The app doing this sort of work is called Magnises now. Another thing to note about the card is that it is a referral only club where vetting is necessary. Billy recently said that there are plans to make the services available in other parts of the USA such as Los Angeles, Boston, and Chicago.
Billy was born 26 years ago in New York City but spent his childhood in Short Hills, New Jersey.