Any mother would be thrilled to have a son like Billy. At age 13 he started a successful business that matched quality clients with a local service company, and the business was a hit. When Billy was a freshman in college at Bucknell Univerisity in Pennsylvania, he founded Spling, which allowed the improvement of URLs by changing them into images that were depicted as mosaic patterns to be used on digital bulletin boards.
According to Bloomberg, Magnises was launched in 2013 by Billy McFarland as a social and professional networking bridge for millennials. The business model provides a seamless opportunity for people of different fields to come together and discover what they might have in common.
The mechanism for this to happen is the Black Card which is the key to the success of the Magnises business proposition. For an annual fee of just $250, the Black Card opens the door to countless venues, events, restaurants, bars, clubs and travel opportunities at very good discounts.
Millennials love to network and talk about themselves while learning about how the other guy gets it done. The demographics here include professionals, entrepreneurs and managers in the 21 to 35 age range. These are the up-and-coming individuals who have much to gain and nothing to lose by hob-nobbing with others of their like kind. Here is where solid relationships are formed for a lifetime as far as business and social connections are concerned.
McFarland is very particular as to the quality and reputations of his affiliate partners, as they have to be places where the millennials congregate and have the staying power to be a trusted associate. By the same token, the members have to fill out an online application and be approved by management.
The concept is working very well and by the end of 2015, there were over 10,000 members. A recent infusion of $3 million in cash from a venture capitalist has set into motion serious plans for expansion. Currently, Magnises is in New York City and Washington DC.
Target cities for the near future include Boston, Chicago, Atlanta, Los Angeles and London. Accomplishments like this would make any mother proud, especially when the product is in high demand and has no ceiling on growth potential.