Billy McFarland founded the Magnises Company in 2013. The 25-year-old is what many people might consider a former child prodigy because he created his first company when he was only 13 years old. It was an online business that matched people and businesses.
According to Business Insider, Billy McFarland, born and raised in New York city, was a member of the class of 2010 The Pingry School. He attended Bucknell University in Lewisburg, Pennsylvania for a short time. He majored in computer engineering. Mr. McFarland dropped out of college near the end of his freshman year because he founded a company called Spling, located in Short Hills, NJ. Spling is an online company that advertises many products including Fuji and Oreos. Spling lets advertisers turn their links into images.
Magnises is social club for very wealthy millenials, people who were born during 1982 to 2002. Most of the members are employed in finance, tech, and the fashion industries. The annual membership fee is $250.00. By using “the black card,” members are privileged to be part of privately held concerts and high living getaways. Members can take advantage of private helicopter trips to the Hamptons and attend special rapper performances.
Many restaurants including La Esquina and Catch have joined the Magnises partnership. Other businesses that have joined the partnership are Finale, Goldbar, and spin studio Cyc. There are more than 6,000 members and this includes members who use the app. The app makes it easy to pick out events to attend and get the special deals.
The company that began as a start up in a townhouse located in West Village, is now located in a penthouse on top of the Hotel on Rivington. Being located in the hotel means that members can catering and open-bar services up to 200 people.
Magnises is always planning to expand. In 2015, they made plans to create a chain in 10 cities across the country. These cities include Chicago, Atlanta, Los Angeles, and Boston. McFarland also plans to open a Magnises in London, England. This year, they opened up a Magnises at the Embassy Row Hotel in Washington, DC. Billy McFarland has so far raised $3 million to fund his expansion.
Sometimes members can organize events for the Magnises. One member arranged for 40 members to take a trip to a New Jersey racetrack. Another member initiated a Booze Cruise around New York Harbor.