It seems that Billy McFarland was born to be successful, as at the tender age of 13 he started a business on his own that found clients for a local company. When he was a mere freshman computer engineering student at Bucknell in Pennsylvania, he formed a company called Spling.
Spling takes the URL of a company and turns it into a graphic, making it more attractive and memorable, giving the company another marketing tool that stands out. Spling is still going strong; McFarland is the CEO. Universal and Discovery are clients among others.
According to Business Insider, Billy McFarland birthed Magnises which is a platform for millennials to band together and share in discounts, perks, and common ground. Magnises sports the “Black Card” which copies all of the data from the member’s debit or credit card. The Black Card is then used for payment, only with deep discounts and perks.
Restaurants, clubs, bars, venues, events and other places are joining in droves, as it has become a prestigious thing to be a member of Magnises. Some degree of exclusivity is appropriate for not only the millennials but also for the businesses who choose to become involved.
The idea has taken hold as evidenced by the fact of over 10,000 members who have forked over the modest annual membership of $250. The Black Card is the possession that is prized by young professionals, entrepreneurs and others between the ages of 21 and 35 in New York City.
Billy McFarland has been able to be somewhat picky as to who can become a member, as well as what businesses can be involved as well. There is an online application for prospective members, and as far as businesses becoming involved, they have to be willing to “get in the game” and offer significant services.
With a recent venture capital infusion of cash to the tune of $3 million, McFarland sees an expansion on the horizon. Cities such as Boston, Chicago, Atlanta, Los Angeles and London have similar populations of millennials and are ripe for placing the business model in those locations.
There is no reason to believe that Magnises would not be as successful on other sites, and Billy McFarland agrees. The model works, and it is simply an issue of having the proper management in the new cities, where the sky is the limit.