Magnises is an exclusive social club that offers you access to special events and deal that are only available through the club’s black card. The black card can be linked to your bank or credit card for the purpose of payment but the main feature is the perks that come along with it.
The Magnises card, made of metal, gives users discounts at bars, clubs and restaurants. You can even reserve certain experiences like private concerts and getaways. According to founder, Billy McFarland, Magnises’ purpose is to connect millennials with new businesses. Using the idea that everyone typically carries a debit or credit card with them at all times, McFarland tied his business idea to it.
Founded in 2013, many businesses in New York City have signed on to partner with Magnises thus far. Members can enjoy trips to the Hamptons or attend private concerts. A mobile app can tie help members pick out the best deals. Magnises targets individuals aged 21 to 35, who mostly work in finance, fashion or technology industries.
Magnises now has over 10,000 members who pay an annual fee of $250. One of the coolest features of the card it that it allows members to transfer data from your credit card into the Magnises card and use it in place of the original credit card.
Members can receive last minute restaurant reservations, free seats on a private jet, backstage passes to concerts and even test drives of Tesla cars. Members also have access to exclusive events and free parties.
Founder, Billy McFarland, born in 1991, began his first company at age 13. This company matched clients with designers. He attended Bucknell University, where he did not graduate. He dropped out of college and founded the company Spling, where he is still CEO. Spling is an online site that allows clients to improve the appearance of their URLs by turning them into images.
In August 2013, he founded Magnises. The black card was officially launched on March 1, 2014. It is available in New York City and Washington DC. McFarland already has plans in place to launch the card in Atlanta, Los Angeles, Boston, Chicago and London. Thus far, Magnises has raised over $3 million in venture capital.