Billy McFarland: The Magnises Black Card Founder

Billy McFarland is an American tech entrepreneur born in 1991 in New York City. He started his entrepreneurial venture at the age of 13 when he founded his first company which focused on business outsourcing. He developed an app that matched clients and designers. Billy McFarland is the founder and CEO of Spling and Magnises companies.

 Spling

According to a Video from Fortune,  McFarland briefly attended Bucknell University in Lewisburg where he studied computer engineering before dropping out to focus on business. He founded Spling; an online ad platform which allows users to improve the visual appearance of URLs by converting them from text links to graphical images arranged as virtual bulletin boards or mosaics. Some of his clients are Universal and Discovery.

 Magnises

Magnises was founded by McFarland in August 2013, and the card officially launched on March 1, 2014. The Magnises black card is a technology based community-oriented platform offering cachet, sparks, and guidance that aims to improve the everyday lives of members drawn mainly from the millennial generation.

The card is however not a credit card, and it’s not connected to any financial institution but transfers data from the existing debit or credit card. You can then use the Magnises card in place of your debit or credit card as the original cards continue to function normally.

 The Magic of Magnises Black Card

The black card charges $250 annual membership fee, with no spending requirements or initiation fees. So far, it’s available in Washington DC and New York City, but plans are underway to expand to Atlanta, Boston, Los Angeles, London, and Chicago. Magnises has subscribed over 10,000 members and collected $3 million in venture capital.

The black card enables you to get discounts at clubs, restaurants, and bars whenever you flash it out in addition to enjoying reservation experiences in luxurious gateways and private concerts.

McFarland affirms that the platform will connect the millennial with new business both online and offline. That can best be linked to what people carry around all the time; debit cards and credit cards.

A mobile app connected to Magnises membership cards highlights ongoing activities and enables you to get instant access to those deals.

Future Expansion Plans

The startup recently relocated its home base from an outgrown West Village townhouse to a more spacious penthouse at the Rivington Hotel, Lower East Side. Magnises are now able to host lots of their activities there. Additionally, members can hold meetings during the day, or even work from there.

The plan is to launch it in 10 more cities within the next 12 months, beginning with Washington, DC, partnering with Embassy Row Hotel.